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3 of the best ways to get a lower mortgage rate now

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Even though mortgage rates are high now, there are still ways for buyers to get a lower rate.

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The mortgage rate climate of the last two years has been less than ideal. 

After mortgage rates plummeted in 2020 and 2021 in response to the pandemic, they surged in 2022 and 2023 in response to inflation and an elevated benchmark interest rate. By last summer they were at their highest level since 2000. And while they’ve come down slightly since, they’re still not where most buyers would prefer they be. The average mortgage rate for a 30-year loan stands at 7.03% as of March 8, 2024, more than double what they were a few years ago.

That said, there are still effective ways to get a lower mortgage rate now. It will just take a bit more work and action on behalf of the borrower to get it. Below, we’ll break down three of the best ways to get a lower mortgage rate now.

See what rate you could qualify for here.

3 of the best ways to get a lower mortgage rate now

Here are three effective ways to get a lower mortgage rate in today’s climate.

Check rates daily

Mortgage rates change daily, influenced by a number of factors. So, the rate you see today may be different tomorrow and different from the one the day after that. While rates usually don’t rise or drop dramatically from day to day, it makes sense to check them daily – and lock one in when they’re favorable for you

And with another inflation report set to be released on March 12, and the next Federal Reserve meeting set for March 19 and March 20, there are bound to be changes in the rate climate in the weeks to come. So by being well-versed in the daily rate environment, you’ll know exactly when to act.

Check today’s mortgage rates here now.

Be prepared to act quickly

Since rates change each day, buyers who are seriously looking to move should be prepared to act quickly. A poor inflation report, a Federal Reserve announcement or even a hint at cuts or rate hikes to come can all change rates. It makes sense, then, to be prepared to act before any of those factors cause rates to rise. 

So, for example, if most economists predict a rate hike announcement, it can be beneficial to act aggressively before it is made official. If it doesn’t come to fruition you can always unlock and re-lock a lower rate before closing — or you can refinance in the future. If you’re not prepared to act quickly, however, you could lose your ideal window of opportunity. 

Know all of your options 

Just because today’s rates are high doesn’t mean you have to get stuck paying the average. There are two simple ways to get a below-average rate in any environment, including now. By buying mortgage points, your lender will offer you a rate below the average (think 6.50% with points versus 7% without them, for example). The points will have to be paid to the lender in the form of an upfront fee at closing or rolled into the overall mortgage loan, but it may be worth it if it means a significantly lower rate than what could have otherwise been secured.

An adjustable-rate mortgage, on the other hand, is exactly what it sounds like. You’ll get a mortgage in which the rate fluctuates over time, but it will likely be lower to start than a fixed-rate one. While that unpredictability may not be ideal for some, an adjustable-rate mortgage won’t randomly change. You typically get a set period of years before the first rate change is implemented, and by then (hopefully) you can simply refinance into a lower, fixed-rate option.

Learn more about your mortgage rate options here today.

The bottom line

While the mortgage rates of March 2024 aren’t as good as those from March 2022 (or March 2020), buyers still have ways to get a below-average rate. By monitoring the rate environment daily, being prepared to act quickly and understanding mortgage points and adjustable-rate mortgage options now, buyers will be better prepared to secure a cheaper rate. It may not be the 3% rate of the recent past but it doesn’t have to be a record high, either. 



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Malcolm Gladwell on “Revenge of the Tipping Point”

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Malcolm Gladwell on “Revenge of the Tipping Point” – CBS News


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Bestselling author Malcolm Gladwell’s latest, “Revenge of the Tipping Point,” builds on a familiar idea from his books: You may think you know how the world works, but you’re wrong! The provocative Gladwell talks with correspondent David Pogue about why he’s refused to change his approach, his work ethic, or his contrarianism.

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Malcolm Gladwell’s life has changed; he has not

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On Tuesday, a new Malcolm Gladwell book comes out. And if history is any guide, it will be a bestseller. “They’re stories about ideas,” he said. “They have characters. They have plots. I’m usually trying to say something about the world.”

His first book, “The Tipping Point,” published in 2000, established the Gladwell recipe: he explores a theme through anecdotes and little-known scientific studies. “‘Tipping Point’ was about the epidemic as an incredibly useful way of understanding how ideas move through society,” Gladwell said. “And epidemics have rules. Let’s learn the rules, right?” 

His seven New York Times bestsellers have sold 23 million copies in North America alone. His fee for corporate speeches is $350,000. His fans have downloaded a quarter-billion episodes of his podcast, “Revisionist History,” and he founded a company called Pushkin Industries to produce it. 

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Malcolm Gladwell recording his “Revisionist History” podcast. 

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In other words, Gladwell has come a long way from the small Canadian town where he grew up, son of a British father and a Jamaican mother, whom he describes as “subversive,” someone who would write notes to excuse her son from class with a blank space. “I would just fill out the date,” said the man who skipped a lot of school.

He attended the University of Toronto, but his best education was the ten years he worked for the Washington Post. “I knew nothing about newspapers,” he said. “I was so raw. I was 23, I think, or 24. Bob Woodward was two rows away from me. I learned at the feet of the greatest journalists of my generation.”

In 1996, Gladwell joined The New Yorker. He wrote about why, in the 1990s, New York’s crime rate plummeted in an article called, “The Tipping Point.” A book followed. It introduced a recurring Gladwellian theme: hidden patterns in the way the world works.

He’s a world-class contrarian, about college (“You should never go to the best institution you get into, never; go to your second or your third choice. Go to the place where you’re guaranteed to be in the top part of your class”); about working from home (“It’s not in your best interest to work at home. … If you’re just sitting in your pajamas in your bedroom, is that the work life you want to live, right? Don’t you want to feel part of something?”); about football (“I think the sport is a moral abomination”).

Gladwell says he enjoys being provocative: “Of course!” he said. “I like poking the bear. I mean, journalists should poke the bear.”

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Bestselling author Malcolm Gladwell’s latest, “Revenge of the Tipping Point,” builds on a familiar idea from his books: You may think you know how the world works, but you’re wrong!

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Gladwell’s fans love his storytelling, and the A-ha! moments they bring. His critics, on the other hand, have described his writing as “generalizations that are banal, obtuse, or flat wrong,” and “simple, vacuous truths [dressed] up with flowery language.” “I’m with the idea that not everyone’s gonna like my work,” Gladwell said. “100% of people don’t like anything.”

In a 2021 “Sunday Morning” interview, Gladwell said, “I would rather be interesting than correct.” He called that “an overly provocative way of saying things! No, I think what I meant was, if I turn out not to be right, I’m not devastated. I accept that as the price of doing business.”

Gladwell often turns his mistakes into new chapters or podcast episodes. In “The Tipping Point,” he explained that New York’s crime drop was the result of “broken windows policing.” As he described it, “Little crimes were tipping points for big crimes.” But that philosophy led to New York’s policy of “stop and frisk.”

“Doing 700,000 police stops a year of young Black and Hispanic men is deeply problematic,” Gladwell said. “We were wrong. I was part of that. I’m sorry.”

Which brings us to the new book, “Revenge of the Tipping Point.” “The original ‘Tipping Point’ is a very optimistic, rosy book about the possibilities for using the laws of epidemics to promote positive social change,” he said. “In the last 25 years, I spent a lot of time thinking about the other side of that problem, which is, what happens when people use the laws of epidemics in ways that are malicious or damaging or self-interested?”

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Little, Brown & Co.


The book’s stories range from topics as obscure as cheetah reproduction, to stories as big as the Holocaust. He writes that almost nobody talked about the Holocaust, or even called it that, until NBC aired a miniseries called “Holocaust” in 1978. “And what changed happened like [snaps fingers]. I mean, it was just there was a tipping point in our understanding of the Holocaust,” he said.

This book arrives at a tipping point in Gladwell’s own life. In a span of five years, he got engaged, had two children, turned 61, and moved from Manhattan to pastoral Hudson, New York. “It’s a lot to handle. There isn’t a single person who ever lived whose parents did not say, ‘This is a lot!'” he laughed. “I have become the person that, you know, I once despised, and nothing makes me happier.”

He also despises Ivy League colleges, accusing them of prioritizing their own reputations over focusing on their students.

Has parenthood affected his outlook on any of the things that he’s written about before? “Well, it’s prepared me for the possibility that I will be a massive hypocrite!” Gladwell laughed. “So, you know, it’s one thing to write about what you should do with your kids when you don’t have them.”

For all his success, Malcolm Gladwell maintains that nothing has changed in his approach, his work ethic, or his contrarianism. “It hasn’t changed what I do,” he said. “I don’t farm out my research; I still go on reporting trips. It hasn’t gotten old. In fact, my great regret is I don’t have time to do more.”

     
READ AN EXCERPT: “Revenge of the Tipping Point” by Malcolm Gladwell

     
For more info:

       
Story produced by Wonbo Woo. Editor: Remington Korper. 



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Coldplay on their record-breaking world tour

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Coldplay on their record-breaking world tour – CBS News


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Twenty-five years after their first hit record, Coldplay’s current world tour, which Billboard calls “the biggest rock tour of all time,” has earned more than a billion dollars and sold more than 10 million tickets. During a stop in Dublin, correspondent Anthony Mason catches up with Chris Martin, Will Champion, Guy Berryman and Jonny Buckland to talk about “Moon Music” (the band’s tenth studio album), the songwriting process, and their future playing together.

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