With mortgage rates at an all-time high, lenders are offering a variety of new loan products designed to attract borrowers by counteracting rising mortgage rates.

Peter Idziak’s recommendation that buyers and sellers consider temporary mortgage buydowns continues to gain traction in the media. A temporary buydown is a cash payment that effectively lowers the borrower’s interest rate for a limited period, allowing borrowers to reduce their monthly payments during the early years of the mortgage. Buydowns paid by individual sellers are generally offered as a concession to avoid a reduction of the sales price and can signal a housing market where buyers are beginning to regain some control.

Peter’s commentary was featured in:

• TheStreet: Buying a Home is Tough, But There Are a Couple of Tricks to Try
• HousingWire: Buydowns become key for buyers to beat the market
• Commercial Mortgage News: How does mortgage rate buydown work?
• Money: Specialty Mortgage Products Promise Lower Rates and Fees — but Are They Safe?