3 basis points

3 basis points

7 Mortgage Rates Flaws That Inflate Refinancing Costs

7 Mortgage Rates Flaws That Inflate Refinancing Costs Refinancing costs rise when borrowers miss small rate differences, extend loan terms, ignore closing-cost amortization, confuse APR with the nominal rate, assume an unchanged credit score, mistime rate locks, and skip thorough rate shopping. A single basis point can add up to