If you want to call the rate that a wholesale
lender doesn’t pay a penny in commission the PAR rate, then yes.
The borrower pays a fee to get the lowest rate OR they can choose a higher rate and have the lender rebate pay all or part of the costs.
It is in most people’s best interest to have a lower rate and lower payment from inception, for the life of the loan.
For those that want to gamble on timing and constantly refinancing, that’s their choice.
There is a national financial guru that tells people to never pay a fee to refinance, and ask for the PAR rate, which HE tells people is a rate that comes with no points. It’s incorrect info fed to average people further confusing them.
