Last summer, Chase Home Loan announced a “mortgage rate sale” — something almost unheard of in the mortgage industry. This week, Chase will restart sales and expand them to include purchases and Home loan refinance.
Chase Home Lending is offering a limited-time interest rate discount to qualified homebuyers and homeowners through Sunday, March 8. Offer available on new purchases and refinances. There are no additional discount points or fees associated with this offer.
“During the rate sale period, buyers and homeowners can receive personalized rate discounts to help lower their monthly payments,” a press notice states.
The reduced price sale will be in effect nationwide from Monday, February 23rd to Sunday, March 8th.
“Discounted rates can significantly lower monthly payments for first-time or experienced homebuyers, improve overall affordability and, in many cases, help buyers increase their purchasing power,” said Bhavesh Patel, director of consumer channels for Chase Home Lending.
For example, he said, for every 25 basis points lower interest rates, buyers can afford a home that’s about 2.5 percent more valuable while monthly payments remain the same.
Chase is also offering grants of $2,500 to $5,000 to eligible borrowers in certain areas. Credit guidelines and income limits may apply.
Freddie Mac said mortgage rates have fallen to their lowest levels since September 2022. But Patel warned borrowers to try to time the market. Mortgage rates fluctuate daily and respond to economic indicators in real time.
“This year alone we’ve seen interest rates hit recent lows and then rise rapidly,” he added. “When deciding if refinancing is right for you, consider your goals, such as lowering your mortgage rate, lowering your monthly payments, shortening your loan term, or taking out cash.”
Chase Home Lending says personalized discounts on rate sales can be “stacked” with other bank benefits, such as “relationship pricing.” Bank customers can enjoy an additional interest rate discount of up to 1% on their loans, depending on new or existing account balances.
Customers can also lock in their mortgage rate for up to 60 days at select Chase Home Loan locations.
To qualify for the rate sale discount, you must lock in your purchase or refinance rate by Sunday, March 8, 2026. Standard loan qualification guidelines apply, depending on the mortgage you select.