Mortgage Minute: When is "the best interest rate" not really the best deal?

Lenders sometimes offer their clients the opportunity to buy down an interest rates by adding on points to the cost of the loan. This means you are paying money up front to get a lower interest rate for the life of the loan. However, it may end up costing you more money if interest rates drop over the next one or two years. Learn more about how to decide whether you may or may not want to buy down your rate today. Doug Crouse is a physician loan lender with BMO Bank. He has over 20 years experience and has written a book to help you understand the mortgage industry and specifically physician loans. You can get a free copy of his book at www.DougCrouse.com.