Each point you buy will knock one - eighth to one -
quarter of a percentage point off your mortgage rate, which is less than points would buy a few years ago.
«The loss of export sales will probably take about three -
quarters of a percentage point off the growth rate of our economy in 1999,» says Fred Flick, NAR vice president of economic research.
«For most people, if you can shave three -
quarters of a percentage point off your interest rate, it's worth looking at,» says Greg McBride, an analyst with Bankrate.com, a personal finance website.
Not exact matches
Analysts expect the 16 - day shutdown will shave between 0.2 and 0.6
of a
percentage point off fourth -
quarter annualized GDP growth.
Combined, the aftermath
of the territorial spat with China will shave 0.8
percentage point off Japan gross domestic product growth for the fourth
quarter, sending Japan's overall economy slightly downward, instead
of the initial forecast for flat growth, according to J.P. Morgan.
But since that December increase
of a
quarter of a
percentage point, the Fed has held
off pushing the fed funds rate any higher because
of concerns about lackluster economic growth.
«If we're talking a
quarter of a
percentage point, the likelihood is there that you're better
off to move it from one institution to another.»
The Federal Reserve voted on Wednesday to raise the key interest rate one -
quarter percentage point, ticking
off the second
of three hikes slated for this year.
The premium reduction is not huge — just one
quarter of 1
percentage point off the previous charge — but it will lower FHA monthly mortgage payments at a time when the rest
of the market is trending costlier because
of rising interest rates.