A good mortgage rate will depend on what mortgage plan you move forward with, your personal financial background and which lender you chose. Once you’ve settled on the type of mortgage loan structure that works best for you, it’ll be much easier to narrow down an ideal mortgage rate. More generally, the lowest mortgage rate you can get will be determined by when you decide to enter the real estate market. The cost of mortgage borrowing is constantly fluctuating, changing the prospects and borrowing limits for borrowers year over year.