For homebuyers struggling with today's higher mortgage rates, new construction communities are suddenly full of tempting offers: 4% mortgage rates when the market is closer to 6% or 7%, tens of thousands of dollars in closing cost credits, or "free" upgrades thrown in at signing.
These incentives aren't necessarily a trick, and they're not all bait and switch. But they're also not free money. Builders are using financial carrots strategically, and buyers who don’t understand how those deals are structured can end up paying more over time.
