Discussing “Discount Points” Amid Eerily Steady Mortgage Rates

Mortgage rates held perfectly steady today, with most lenders offering the exact same quotes as yesterday. The most prevalent conventional 30yr fixed rates remain in a range of 3.375% to 3.5% on top tier scenarios, but some lower quotes are possible in certain circumstances. This has to do with the upfront costs associated with any given rate. Policies vary by lender, but in many cases, you have the option to pay more money upfront in exchange for a lower rate . Some refer to this as “paying points,” buts that’s a bit of an archaic and pejorative term. Self-annointed gurus used to say “never pay points!” But that’s not always good advice. Discount (or “discount points”) offers a perfectly le…
Mortgage Rates Newsletter – Market Analysis

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