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Can You Lower Your Mortgage Rate? Yes You Can. 8 Ways You Can Do So.

By
Real Estate Agent with Coldwell Banker Realty 179530

CAN YOU LOWER YOUR MORTGAGE RATE?

8 WAYS TO DO IT...

 

If you’ve been following the news lately, you’ve probably seen that interest rates are up... quite a bit, in fact. The cost of a mortgage now is about 55% higher than one year ago. And the volatility in the rates is not likely to change soon. That means getting the best rate possible is more important than ever. Even a slight difference can save you tens of thousands over the life of your loan. 

 

Although mortgages are more expensive it's not time to panic! It’s still possible to secure a good mortgage interest rate and make your home buying dreams a reality.

 

FOUR THINGS THAT HELP DETERMINE YOUR MORTGAGE RATE

 

If you or someone you know are thinking about making a move, check out our latest blog post to learn how  → 8 Strategies to Secure a Lower Mortgage Rate.

 

8 WAYS YOU CAN LOWER YOUR MORTGAGE RATE

How To Lower Your Mortgage Interest Rate

8 Ways To Lower Your Mortgage Interest Rate

Even if you’re not in the market for a new home right now, many of the strategies we discuss in this blog post can help you get a better rate on an auto loan, a home equity line of credit, or even your credit cards.

 

Find all eight strategies for a lower mortgage rate here and don’t hesitate to reach out with any questions!

 

THE COST OF WAITING FOR MORTGAGE RATES TO GO DOWN

 

P.S.  Looking for a lender? We’re happy to discuss your financing needs and connect you with top Charlotte area loan officers or mortgage brokers best suited for your situation. Reach out to me at 704-779-0813 or at nina@ninahollander.com

 

 

Nina Hollander and Carolinas Realty Partners with Coldwell Banker Realty are Greater Charlotte area residential home experts serving Greater Charlotte region home sellers for 22+ years.

If you're considering buying (or selling) a home in the Greater Charlotte region, I'd love an opportunity to earn your business, to exceed your expectations, and to show you why experience matters and how:

 "The Right Broker Makes All The Difference."

 

Posted by

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Realty
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: News You Can Use From The Greater Charlotte Area
Search For All Charlotte Area Homes: www.GreatHomesInCharlotte.com 

Charlotte Magazine 5-Star Customer Satisfaction Award Winner Since 2007

 

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Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Eric Bouler good morning, Eric... thanks for popping by. Wishing you a terrific Tuesday.

Nov 08, 2022 07:20 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Norma J. Elkins thanks, Norma... given how much rates have risen and how quickly, everyone is looking to see how they can save a bit of money.

Nov 08, 2022 07:21 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Nina and thank you for the great information in your blog to share with us here in the Rain.  Make it a great day!

Nov 08, 2022 08:16 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Will Hamm thank you, Will, for popping by today. Trust your week is off to a good start.

Nov 08, 2022 08:54 AM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

It's good to know there some options available for buyers, Nina, especially those who may be maxed at the top because of high interest rates. Thank you for sharing this!

Nov 08, 2022 09:09 AM
Andrea Bedard
Thompson Company, REALTORS® 240.593.2860 - Silver Spring, MD
Fluent in Real Estate & German, M.A. ABR ASP CIPS

Great tips Nina! The silver lining of this market is that it's possible to negotiate seller subsidies again that can be used to buy down the rate. 

Nov 08, 2022 09:42 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, this is the conversation with buyers contemplating a purchase right now.   Many sellers around here are offering money to buy down the rates.

Nov 08, 2022 09:52 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Wanda Kubat-Nerdin - Wanda Can! hi Wanda... people really are maxing out. Every lender I speak with says mortgage applications are way, way down.

Nov 08, 2022 10:00 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Andrea Bedard hi Andrea... I'm watching my market carefully. So far, my listings have not had to "give back" on seller incentives. But who knows how long that will last.

Nov 08, 2022 10:01 AM
Roy Kelley
Retired - Gaithersburg, MD

This is good information to share with prospective mortgage borrowers.

Have a great day.

Nov 08, 2022 10:01 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joan Cox hi Joan... so far, I haven't seen many sellers offering incentives up front. I haven't needed to do so for my own listings to-date either. But who know how long that will last.

Nov 08, 2022 10:05 AM
Joan Cox

I haven't had to do that with my listings either, so far!

Nov 08, 2022 10:09 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Thanks, Roy, for stopping by. Mortgage applications are way, way down right now, which means sales will be down, too.

Nov 08, 2022 10:06 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Hi Nina- this is exactly the kind of information that buyers are interested in!!! It's something we haven't had to think about for several years. 

Nov 08, 2022 10:10 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Kathy Streib hi Kathy... Charlotte area has been a seller's market for over five years... there's been no need to "tempt" buyers to purchase a home.

Nov 09, 2022 04:12 AM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Nina Hollander, Broker,

It is so important to point out all these facts.  Buyers need to know the considerations for a loan.

There are so many things to consider, and each homeowner or potential homeowner has to do what is best for them   A primary consideration is how long you are planning to live in that home.  Even with a higher interest rate, the equity gained can outweigh the cost of the loan.  I am sure this is very true in your Charlotte seller's market. 

 

Nov 09, 2022 08:42 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Sheri Sperry - MCNE® hi Sheri... you are so right. As I'm always saying "one solution is not right for everyone."

Nov 09, 2022 09:17 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nina all of these things can play a big role in a mortgage interest rate, so it is important for Buyers to talk to a knowledgeable Loan Originator to make sure they are maximizing their options.

Nov 09, 2022 11:52 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

George Souto hi George... that's exactly why, regardless of market conditions, the first thing I do is introduce my buyers to the best lenders in the Charlotte area.

Nov 09, 2022 12:27 PM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

Spoken like the true professional that you are my friend. Thank you for sharing Nina 🙂

Nov 09, 2022 07:39 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Paul S. Henderson, REALTOR®, CRS good morning, Paul... thank you for starting off my day with such a lovely comment! I appreciate it and you more than you know.

Nov 10, 2022 04:07 AM