Veronica Dagher

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3,082 appearances 51 recordings 1 series first heard Sep 2017 last heard Jan 2025

Veronica Dagher’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · How the Fed’s Rate Moves Could Help Home Buyers in 2024 · 2 Feb 2024 podcast

Take advantage of the financial relationships that you have, especially with your existing bank, and see what it would take for them to sweeten the pot, offer you a mortgage that's more competitive than what you're seeing advertised, matched

Sometimes that means transferring a little bit extra money or sometimes a lot of extra money to their bank. matched

Another great source of more affordable mortgages is often credit unions. matched

So don't rule out credit unions as a source of mortgages. matched

There's also online lenders. matched

There's a lot of places to shop around. matched

So the point is, don't take that first offer. matched

Get at least three to five people. matched

different loan estimates and see overall what's going to be the best deal for you in the long run. matched

It's a way to lower your interest rate, as you said, especially if you want to get an under 6% rate. matched

A point is a nice way to do that. matched

Each point reflects 1% of the loan amount, and it might be paid up front to your lender. matched

So for example, one point on a $300,000 loan is going to cost you $3,000. matched

So each point lowers the interest rate by a quarter of a percentage point for the life of the loan. matched

When you're considering this, though, you want to think about if you're going to refinance in the next five years or so, if you're going to buy points, because if you're going to refinance soon, it might not make sense to buy the points. matched

A lot of home buyers are hoping that more homes are going to come on the market because it's been really slim pickings, higher mortgage rates and an unwillingness of many homeowners to sell in May 2023, one of the worst years for home sales. matched

So people are hoping that's going to change matched

in 2024. matched

As you know, many home sellers are also home buyers. matched

So a home seller is not going to want to let go of their low rate mortgage. matched

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