Finance
In New York, 'points' paid to reduce the mortgage interest rate (discount points) are sometimes called:
AOrigination fees
B'Buying down the rate,' each point reducing the rate by approximately 0.25%✓ Correct
CClosing concessions
DPMI prepayment
Explanation
Discount points are paid upfront to reduce ('buy down') the interest rate on a mortgage. Each point typically reduces the rate by approximately 0.
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