What role do incentives play for home buyers facing high mortgage rates?

Incentives like mortgage rate buydowns and builder credits significantly help home buyers manage affordability amid high mortgage rates by lowering effective interest costs and reducing upfront expenses. These incentives can trim borrowing costs by fifty to one hundred basis points, making monthly payments more manageable. Buyers who seek out and negotiate these perks improve their chances of homeownership without overextending budgets in a tight housing market.