Sales of new single-family homes hit a seasonally adjusted annual rate of 676,000 in February — an uptick of 5.1 percent — and roughly met economists’ expectations, according to data released Tuesday. Continue reading
Lender creates and funds an escrow account that’s used to cover the difference between the full monthly mortgage payment and the payment with the reduced rate until the buydown expires. Continue reading
Interest rate buydowns involve a trade-off between upfront costs and long-term affordability. Clever CEO Luke Babich offers strategies to help clients make the choice. Continue reading
RateReduce Sell allows sellers to pay points to lock in a discounted mortgage rate that their agent can cite in co-branded marketing materials. Continue reading