Home Buyers Will Pay More to Get A Mortgage
Starting NOW!
This Has Not Occurred Through Market Conditions but by Rather Through Legislation Passed and Signed A Couple Of Weeks Ago.
Congress Was Working on the Renewal of the Payroll Tax, Which Funds Social Security, Extended Unemployment and Things like that.
It was Approved and Passed and President Obama said
" This is Some Good News Just In The Nick Of Time For The Holidays".
Unfortunately This Comes With a Perminate Hike to FHA Mortgage Insurance Premiums and at Least a 10bps Hie to Fannie Mae and Freddie Mac Convential Financing.
A Rate Hike that will Cost Between .375% and .5% on all Freddie Mac and Fannie Mae Loans
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