Consumer World Blog by MrConsumer

This story asserts that paying points when you finance or refinance your mortgage is often the more costly than taking a higher rate with no points. Although one can figure out the breakeven point, most people don't remain with their new mortgage long enough to reach that point. MrConsumer says: look into your crystal ball a little more carefully when deciding whether to take out a mortgage with points. If you know you will be in that house with that mortgage beyond the breakeven point, you will save money with the lower rate by paying points. For more consumer news, visit Consumer World.