How much does 1 point lower your interest rate? September 03, 2021 02:09 Updated It can vary, but typically one point will lower your rate by 0.25 percent. Related articles What is a mortgage discount point? What is a mortgage rate lock? What is the difference between interest rate and annual percentage rate (APR)? Do I have to pay extra for an OJO Select Network agent? How does the Federal Reserve affect mortgage rates?