Here's How to Get a Cheaper Mortgage With Rising Rates
Gap between what lenders are charging has widened as borrowing costs surge.
An overhead view of the Glendale Lakes community development in Arcola, Texas.
Photographer: Mark Felix/BloombergThis article is for subscribers only.
For buyers who haven’t already been priced out of the most unaffordable US housing market in decades, there might be a silver lining. Lenders — all of a sudden — are competing for their business.
Borrowing costs are now all over the map, with the dispersion — the range of rates quoted by lenders relative to the median — at the widest in at least five years, according to Len Kiefer, Freddie Mac’s deputy chief economist.