Last summer, Chase Home Lending announced a “mortgage rate sale” — something practically unheard of in the mortgage industry. This week, Chase is rebooting the sale and expanding it to include purchase and refinance home loans.
Chase Home Lending is offering limited-time rate discounts to eligible home buyers and homeowners through Sunday, March 8. The offer is available for new purchases and refinances. There are no additional discount points or fees related to the offer.
“During the rate sale, buyers and homeowners can access personalized interest rate discounts to help lower monthly payments,” a press notice said.
The rate sale is in effect nationwide from Monday, Feb. 23, through Sunday, March 8.
“Discounted rates can meaningfully lower a first-time or an 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 about 2.5% higher in value, with the monthly payment remaining 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 dropped to their lowest level since Sept. 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.
“This year alone, we’ve seen rates hit recent year lows and then quickly rise,” he added. “When deciding if a refinance is right for you, consider your goals, such as lowering your mortgage rate, reducing monthly payments, shortening your loan term, or taking cash out.”
Chase Home Lending says the rate sale personalized discounts can be “stacked” with other bank 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 the rate sale discounts, you must lock in a purchase or refinance rate 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 down if rates improve. Standard loan qualification guidelines apply, which depend on the mortgage you choose.
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