49% of US homebuyers bought mortgage points in 2023, up from 27% in 2019, reports Zillow.
In 2023, nearly half of U.S. homebuyers (49%) are opting to buy mortgage points—paying an upfront fee to reduce their interest rates—up from 27% in 2019, according to Zillow. This strategy, typically costing 1% of the loan amount for a 0.25% rate reduction, has gained popularity amid rising mortgage rates. However, the choice between buying points or making a larger down payment depends on individual financial situations and market conditions. Consulting a mortgage broker is recommended.
October 04, 2024
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