How Does a Mortgage Rate Buy-Down Work?

Washington Post, Sept. 14, 2022–Michele Lerner
Rising rates are particularly challenging for buyers who may be struggling to afford their first home or those who hope to move up into a larger and more expensive property. While there are multiple strategies to manage higher mortgage rates, one option to consider if you have some extra cash is to buy down the interest rate temporarily.
https://www.washingtonpost.com/business/2022/09/14/what-is-mortgage-rate-buydown/