Many people remember The Great Recession, also known as the 2008 Housing Crash. Given the likelihood that we are heading into another recession(if we are not already in one), people are concerned that home prices will go down 20% or more in the coming months or years. The “United States housing bubble” was a real
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What are Mortgage Points?
Mortgage points (also known as discount points) are fees paid directly to the lender at closing in exchange for a reduced interest rate. This is also called “buying down the rate,” which can lower your monthly mortgage payments. One point costs 1 percent of your mortgage amount (or $1,000 for every $100,000). Essentially, you pay
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