What the new inflation report means for mortgages (and what to do about it)

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Inflation ticked up yet again in August. Here's what that means for mortgages and homebuyers now.

on your loan. Just don't wait and hope for something better when all signs are pointing toward another rate hike.act as a fee borrowers pay to a lender to secure a lower rate than what's usually available. So, think 7.5% without points and 7.25% with them, using today's figures for reference. It may not be a huge difference each month, but that extra available funding will add up over time.

While that may not always be preferable, it could be advantageous now if it means you'll secure a lower rate than what's available with the locked-in alternative. Just be cautious about using this mortgage type as rates can, and likely will, rise in the future, leading to additional expenses down the line.With inflation still humming along in the background, homebuyers need to be smart about their options.

 

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