I say this almost every day, but this is getting a little ridiculous, folks. Now the Biden Administration wants low-risk homebuyers to pay a little extra in order to accommodate those whose loans carry more risk.
Nope, not joking.
Tweet Loading… Redistribution of wealth!!!
AWESOME!!! Seriously though, why do this? Why make the homebuying experience even more tedious than it already is? Especially when interest rates have nearly doubled over the past year to above 6%.Its’ just confusing.I’ll turn it over to Zero Hedge : A new rule from the Biden administration will force homebuyers with good credit scores to pay higher mortgage rates in order to subsidize loans to those with riskier borrowing profiles, the Washington Times reports.The fee, which will apply to those buying or refinancing houses after May 1, will affect homebuyers with credit scores of 680 or higher, [amounting] to roughly $40 per month on […]
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