Mortgage Rates Stall Ahead of Jobs Report: How to Save Up to $4,800 Per Year
Thursday, 5 September 2024, 16:17
Market Anticipation Before the Jobs Report
The release of the jobs report on Friday has markets on edge, creating a stall in current mortgage rates. Analysts are noting the potential effects on both employment and housing markets, emphasizing the demand for timely information.
Ways to Save on Mortgage Costs
Freddie Mac indicates that home buyers can leverage this stagnation to save significant money. Here are some strategies:
- Shop Around for Rates: Different lenders can offer varying rates, impacting overall payment amounts.
- Improve Your Credit Score: A higher score can secure lower interest rates.
- Consider Shorter Loan Terms: While monthly payments on shorter terms may be higher, total interest paid can be substantially less.
- Explore Discounts: Some lenders offer discounts for automatic payments or for being an existing customer.
By following these tips, home buyers can realize potential savings of up to $4,800 a year.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.