Homebuilders are fronting thousands of dollars in cash to help buyers reduce their mortgage rate and make homes more affordable

Dec 13 2022 by Business Insider

 
A home located in Phoenix, Arizona.

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Mortgage rate buydowns are a home financing tool that provides buyers with a lower interest rate. Homebuilders are employing rate buydowns the most in areas where home prices are falling the fastest. Volatility in the mortgage market could make the practice more prevalent in the nearterm future.

Homebuilders are using creative incentives to attract individual homebuyers as high mortgage interest rates continue to eat away at demand for new...

Continue Reading Homebuilders are fronting thousands of dollars in cash to help buyers reduce their mortgage rate and make homes more affordable