3 things homebuyers should do before the March Fed meeting

For the first time since January, the Federal Reserve is set to meet again this month to discuss monetary policy and the future of interest rates. While the former is important, the latter is clearly where millions of Americans will be focused, and understandably so. The Fed paused its interest rate-cut campaign in January after issuing three consecutive cuts in the final four months of 2025. That followed an extended pause at the beginning of the year after the Fed issued three cuts in the final months of 2024, too. And while these cuts have helped reshape the borrowing climate, work remains to get rates as low as borrowers would like.

This is especially true for the mortgage rate environment, which significantly cooled in 2025 but still needs to drop further to entice more borrowers to purchase a home. That said, these borrowers aren't totally out of options, either. There are still reliable strategies that they can employ to position themselves for the lowest possible mortgage rate offers and there are even a few things they may want to consider doing before the Fed meets again on March 17. Below, we'll detail three of them.

Start by seeing how low your current mortgage rate offers are here now.

3 things homebuyers should do before the March Fed meeting

To improve their chances of borrowing success, homebuyers should consider making these three moves now, in the weeks leading up to the Fed's March meeting:

Shop around for lenders online

It's always smart to shop around for lenders to see how low a rate you can actually qualify for, but it's especially important to do so now as lenders prepare their rates to respond, perhaps preemptively, to the Fed's March meeting. And while the chances of a rate cut at the meeting currently appear low, comments made at the conclusion of the meeting regarding future rate cuts could easily impact rates in either direction. 

Lenders often get ahead of that by adjusting their rates prior to the meeting's conclusion, which could be a good thing for borrowers. Shop around now, then, to establish a baseline to compare against. Getting rate quotes from at least three lenders can better inform your next steps and help you truly determine how affordable rates are right now.

Shop for mortgage rates and lenders online today.

Research their ARM and mortgage point options

An adjustable-rate mortgage (ARM) is exactly what it sounds like – a mortgage in which the interest rate will adjust over time. This can be risky for those who are unsure about their ability to manage the loan, but it can also be much less expensive than other fixed-rate options. And with the rate here remaining constant for a multi-year period, it could be the smart way to circumvent today's elevated rates before eventually refinancing into a fixed-rate option in the future.

Mortgage points, however, should also be researched now. These serve as a fee that the borrower pays the lender to secure a lower interest rate. While it may not feel cost-effective to pay another fee, it could be worth it depending on the interest rate savings potential. 

By understanding these options now, before the Fed meeting potentially shakes up the rate climate, borrowers can better determine their next steps, and they may be able to offset any slight rate upticks knowing that they have more affordable options with an ARM or by buying points.

Consider locking a rate in advance

Once you've established a baseline of where mortgage interest rates stand now and determined how ARMs and mortgage point additions can impact those rates further, it may be time to seriously consider locking a rate now, before the Fed meeting wraps. After all, the chances of a Fed rate cut on March 18 are listed under 3% now, according to the CME Group's FedWatch tool. And even another pause has the potential to cause mortgage rates to rise slightly, and if comments post-meeting seem to indicate an extended pause, mortgage rates could respond poorly. 

That could all be circumvented now, however, if buyers lock in a rate instead. They could always float it down before closing (for a fee and depending on the lender) should rates drop again, but in the interim, they'll be protected against any interest rate movement upward, too.

The bottom line

Homebuyers this March find themselves in an improved position, even if it's not a perfect one. But with a Fed meeting looming later in the month and the potential for rates to change again, perhaps even in an unfavorable way, buyers will want to be smart and strategic in their approach. By making the above three moves now, they can better position themselves for both short-term and long-term affordable homebuying success. Consider speaking with a lender now, who can help you better navigate this evolving interest rate climate and take advantage in a cost-effective way.