Home Lenders Hunt for Ways to Make 6% Mortgages More Attractive

Bloomberg, Feb. 23, 2023–Jennifer Epstein, Paige Smith
Companies including Rocket Cos., Amplify Credit Union and Better are pitching incentives to cover the cost of future refinancing to buyers who lock in loans now. Some lenders are offering to buy down interest rates, often by one point for one year. Homebuyers are opting into adjustable-rate mortgages that carry slightly lower rates than fixed loans. Their takeaway: A home is a long-term commitment, but borrowing costs can be temporary. Or as one frequently touted industry mantra goes, “marry the house, date the rate.”