Negative points
Negative points
Negative points are used by a lender to rebate either a mortgage broker, or a mortgage borrower, for a mortgage that carries a higher-than-par interest rate. This rebate might be paid as a fee to the mortgage broker, or can be paid to the borrower to offset closing costs. No-cost mortgage loans use negative points; the borrower essentially trades a higher interest rate for lower upfront costs.
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National Rates
| Loan Type | Today |
|---|---|
| 30 yr fixed | 4.83 |
| 15 yr fixed |
4.39 |
| 5/1 ARM | 3.69 |
Rates may contain points
