Home owners buy points all the time. I’m not talking about the rich either, this is done at middle class incomes. And as low isn’t a real metric. That 2.65 was going out to folks borrowing less with excellent rates. The average person taking out a 750k loan was absolutely not getting that rate. It would have been closer to 3.5%. You seem to be mixing average with the absolute lowest rate.
I’m not mixing average with lowest rate, the average dipped that low in 2021, meaning lots of people were getting even lower rates than that. And yes, of course people with middle class incomes buy points. That doesn’t counter my point.
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Home owners buy points all the time. I’m not talking about the rich either, this is done at middle class incomes. And as low isn’t a real metric. That 2.65 was going out to folks borrowing less with excellent rates. The average person taking out a 750k loan was absolutely not getting that rate. It would have been closer to 3.5%. You seem to be mixing average with the absolute lowest rate.
Yes the price went up. It wasn’t double.
I’m not mixing average with lowest rate, the average dipped that low in 2021, meaning lots of people were getting even lower rates than that. And yes, of course people with middle class incomes buy points. That doesn’t counter my point.