Reply to Trump orders fannie/fredde to buy mortgage bonds

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Reply to "Trump orders fannie/fredde to buy mortgage bonds - rates dropping"

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[quote=Anonymous]The president wrote that he plans to get Fannie Mae and Freddie Mac to purchase $200 billion in mortgage bonds so mortgage rates will drop and homebuyers will save on monthly payments. Fannie Mae and Freddie Mac are government-backed companies that buy mortgages from lenders to free up lenders’ cash to offer home loans.

This is a grift just like everything else he says and does.

t’s an important point as an individual’s ability to get a low rate isn’t solely based on the mortgage bond market. A wide range of factors, including credit history, credit scores, income, and debt-to-income ratio, influence rates that consumers are offered and whether they’re approved for a mortgage, according to the Consumer Financial Protection Bureau.

The problem here is they are not lowering [the] risk of the marketplace or the debtor, so the new loans issued by banks may not have lower rates in the long term, as the risk profile [of the consumer] has not changed,” Cooke said.

Come on down MAGA idiots and listen to your godly idol Trump while he steals everything you ever worked for. [/quote]

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