Every homebuyer wants the lowest rate possible—and discount points can help get them there! By purchasing mortgage points, your client can reduce their interest rate and save money over the life of the loan. One (1) discount point costs 1% of the loan amount. Each discount point may lower the interest rate as much as 0.25%, depending on product and loan characteristics.
Curious how much they could save? Try my free Discount Points Calculator and see the difference for yourself.
Contact me today to learn more about working together to reduce your client’s rate.
Weekly Market Update
Mortgage rates ended the week flat (as of Thursday afternoon), after a volatile week for rates. We had some negative data to start the week, with ISM Manufacturing coming in worse than expected and the Atlanta GDP tracker is showing GDP now at -2.8% for Q1. ADP Employment Changes came in light as well. That sets up a backdrop for the monthly non-farm payrolls, with it needing a weak number for rates to stay low. It looks like the market got very scared the past week and a half and the rally in rates is starting to falter. We need a soft jobs number Friday or a CPI number next week to get rates moving lower.
•
U.S. 10-year Treasury on Thursday afternoon is at 4.29%
•
Initial Jobless Claims came in higher than analyst’s expectations (221k claims vs expectations of 233k)
•
ISM Services Index came in higher than analyst’s expectations (53.5 vs expectations of 52.5)
•
ADP Employment Changes came in lower than analyst’s expectations (77k vs expectations of 140k)
•
ISM Manufacturing came in-line with analyst’s expectations (50.3)
