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Discount points, also called mortgage points or simply points, are a form of pre-paid interest available in the United States when arranging a mortgage. One point equals one percent of the loan amount. By charging a borrower points, a lender effectively increases the yield on the loan above the amount of the stated interest rate. Borrowers can ...
By buying two points for $6,400 upfront, the borrower’s interest rate shrank to 6.5 percent, lowering their monthly payment by $85, and saving them $30,709 in interest over the life of the loan.
Healthpeak Properties also obtained a five-year, $750 million unsecured term loan with $210 in Physicians Realty Trust private placement notes to support its development. In addition, the company entered into a swap agreement to lock in an interest rate of 4.5% for the life of the loan.
As such, it serves as the de facto floor for private-sector lending, and is the baseline from which common "consumer" interest rates are set (e.g. credit card rates). Traditionally, the rate is set to approximately 300 basis points (or 3 percentage points) over the federal funds rate.
The Federal Reserve announced another cut to its benchmark interest rates yesterday, dropping the Fed rate by 25 basis points to a range of 4.25% to 4.50% — the third consecutive time it's ...
The Federal Reserve announced a cut to benchmark interest rates yesterday, dropping the Fed rate by 50 basis points to a range of 4.75% to 5.00% — the first time its lowered rates since March 2020.