Holden Lewis

speaker

125 appearances 1 recordings 1 series first heard Apr 2023 last heard Apr 2023

Holden Lewis’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

No recordings in the last 12 months.Older appearances are listed below; set an alert to hear about the next one.

newest first · ▶ plays the moment

WSJ Your Money Briefing · Ways to Find the Most Affordable Mortgage Rate · 14 Apr 2023 podcast

And that's because the survey is conducted early in the week, and then it's reported on Thursdays.

So first of all, the data might be stale.

But also, that survey mixes

rates on loans with discount points and without discount points.

With a discount point, it's an upfront fee that you pay to the lender to reduce your interest rate.

Usually, 1% of your loan amount will reduce the interest rate by one quarter of a percentage point.

So let's say you're getting a $300,000 loan.

If you pay two points, that would be $6,000.

That would be 2% of the loan amount.

So you'd be paying $6,000 upfront and you might reduce your interest rate by about half a percentage point.

And that can really save you a lot of money if you keep that house for say five or six years or longer.

There's not room for negotiation with an individual lender.

But what you can do is apply at several different lenders.

Three is a good number.

And find out the deals that they're offering on discount points.

And one of those lenders might be offering a better deal on that day or even at that hour.

So that is the best way to shop for the best deal on discount points.

You always keep in mind as a buyer that the negotiation isn't only about the house price.

The negotiation can also include elements of the financing.

Showing 41–60 of 125 · page 3 of 7