Last summer, Chase Home Lending announced a “mortgage rate sale,” something virtually unheard of in the mortgage industry. This week, Chase will restart the sale and expand it to include purchasing. and refinance mortgage loans.
Chase Home Lending is offering limited-time rate discounts to eligible homebuyers and homeowners through Sunday, March 8. Offer is available for new purchases and refinancing. There are no discount points or additional fees associated with the offer.
“During the rate sale, homebuyers and homeowners can access personalized interest rate discounts to help reduce monthly payments,” a press notice said.
The fare sale is valid throughout the country from Monday, February 23 to Sunday, March 8.
“Discounted rates can significantly reduce a new or experienced buyer’s monthly payment, improve overall affordability and, in many cases, help buyers increase their purchasing power,” said Bhavesh Patel, consumer channel executive at Chase Home Lending.
For example, he said that for every quarter-point reduction in rates, a buyer could afford a home worth about 2.5% more, and the monthly payment would remain the same.
Chase also offers grants of $2,500 to $5,000 to eligible borrowers in certain areas. Credit guidelines and income limits may apply.
Mortgage rates have fallen to their lowest level since September 2022, according to Freddie Mac. But Patel warns about borrowers trying to time the market. Mortgage rates fluctuate daily and respond in real time to economic indicators.
“Just this year, we’ve seen rates hit multi-year lows and then rise rapidly,” he added. “When deciding if a refinance is right for you, consider your goals, such as lowering your mortgage rate, lowering your monthly payments, shortening the term of your loan, or cashing out.”
Chase Home Lending says personalized rate sales discounts can be “stacked” with other banking benefits, such as “relationship pricing.” That’s where additional rate discounts of up to 1% are applied to bank customers’ loans, based on new or existing account balances.
To qualify for rate sale discounts, you must lock in a purchase rate or refinance by Sunday, March 8, 2026. Through Chase’s Homebuyer Advantage with Lock & Shop, customers can lock in their discounted rate for up to 90 days with a one-time float if rates improve. Standard loan qualification guidelines apply, depending on the mortgage you choose.