Certain mortgage mistakes will prevent homebuyers from exploiting a December Fed rate reduction. J Studios/Getty Images

Mortgage interest rates may still drop this year.

Following two Federal Reserve interest rate cuts that caused mortgage rates to fall to multiple 3-year lows , the central bank is poised to cut rates again when it meets on December 10. That, in turn, could cause mortgage rates to fall again. And it may even happen pre-emptively , as the last two big mortgage rate drops actually occurred in the hours preceding a Fed rate cut announcement.

This is great news for homebuyers, who already have multiple ways to secure a mortgage rate under 6% now. And they could have even more after next week. Still, homebuying and mortgage rate shopping should always be

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