JPMorgan Chase is rebooting its limited-time mortgage rate sale through March 8, expanding the offer to include both home purchases and refinances. The promotion, first launched last summer, provides eligible borrowers with personalized interest rate discounts that can lower monthly payments without additional fees.

Bhavesh Patel, consumer channel executive at Chase Home Lending, noted that rate reductions can significantly impact affordability. For every quarter-point decrease in rates, buyers could afford homes approximately 2.5% more expensive while maintaining the same monthly payment. The bank also offers grants of $2,500 to $5,000 in certain areas.

With mortgage rates at their lowest since September 2022, according to Freddie Mac, the timing could benefit borrowers looking to lock in savings. However, Patel cautioned against trying to time the market, as rates fluctuate daily based on economic indicators. The rate sale discounts can be combined with other Chase benefits, including relationship pricing that provides additional rate discounts of up to 1% for bank customers.