Mortgage rates are near a three-year low, tempting buyers, but experts warn against common mistakes like waiting too long to talk to a lender, skipping preapproval, or misjudging overall costs. As Jen Poniatowski, senior vice president of mortgage growth and market development at Key Mortgage, says, “The most common mistake is waiting until someone has to buy to speak with a mortgage professional.” Buyers should plan, compare lenders, and budget carefully before moving forward.