Does a higher credit score lower my mortgage rate?

Raising a credit score generally lowers the mortgage rate a lender will offer, since lenders price risk in tiers and a higher score signals lower risk of default. The exact improvement varies by lender and loan program, and moving between certain score tiers matters more than others depending on where a borrower currently sits. Other factors such as down payment and loan type still interact with credit score to set the final rate. A lender can run a specific borrower's numbers to show how much a credit improvement would actually change their quote.