Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure. With mortgage rates pushing 7%, the timing of a "rate sale" couldn't be better.
Chase Home Lending is once again hosting a limited-time interest rate discount promotion. The national lender launched its first weeks-only offer just over a year ago. Apparently, it's been enough of a success that Chase is bringing the rate sale back for its third encore.
The rate discount is available for three weeks only, from Monday, Sept. 14, through Sunday, Oct. 4. Chase Home Lending will offer homebuyers and homeowners discounted rates on all new mortgage purchase and refinance loans. The sale is available for both new and existing customers.
While offers vary by state, Chase says qualified buyers can receive up to 0.25% off their loan interest rate. For example, an offered rate of 6.75% could be cut to 6.50%. That would save a borrower over $23,800 in interest on a $400,000 loan with a fixed-interest 30-year term — and reduce the payment by more than $65 a month.
The discount applies to the life of the loan on fixed-rate mortgages. For adjustable-rate mortgages, the discount will apply during the loan's initial fixed-rate period. Borrowers can also combine the offer with other offers, grants, and discounts, subject to program terms and eligibility.
No discount points or fees are tied to the rate discount. "Mortgage rates can move week to week because they're influenced by a mix of market factors including inflation trends, economic conditions, jobs data, investor expectations and what's happening in the bond market," Ryan Hayes, head of retail sales at Chase Home Lending, told Yahoo Finance in an email. The Chase rate sale offers a break to rate shoppers at a time when mortgage rates have resisted moving lower.
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