3/02 - Buying down your rate
Today, the 30 year mortgage rate has risen above 7% according to Mortgage News Daily. This will now make home affordability tougher for many people. But you actually don\u2019t have to pay a 7% rate. Why? You can \u201cbuy down the rate\u201d. Tonight on the Jon Sanchez Show at 5pm, we\u2019ll explain when buying down your rate makes sense and how the entire process works.