“Buying Down” Your Interest Rate – What That Means, and When It Makes Sense

What does it mean to “buy down” my interest rate? Essentially, every rate has a price.  And, to be clear, origination fees are the same as points – both are up front charges that are expressed as a percent of the loan.  For instance, a 1% origination fee (or point) on a $460,000 mortgage would(…)