Source: CBS News —
Shopping around for a mortgage can be more than a little confusing. With all the variables to consider and industry lingo to learn, it’s almost like the home buying process was designed to leave you scratching your head.
Like with any complicated topic, it’s best to take things one at a time. The concept of “points” on a mortgage, for example, is multi-faceted. But in the current mortgage rate environment, it could be something a purchaser is seriously considering.
Mortgage rates hit record lows during the pandemic but have since risen as part of an effort to tame decades-high inflation. If you’re currently looking for a home or ready to apply for a mortgage, you should know what your interest rate options are.
Read on to discover what mortgage points are, how to buy them and when they can actually save you money.
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