Talk of The Villages Florida - View Single Post - Housing prices falling in Florida
Thread: Housing prices falling in Florida
View Single Post
 
Old 04-22-2023, 07:24 AM
Bilyclub's Avatar
Bilyclub Bilyclub is offline
Platinum member
Join Date: Aug 2019
Posts: 1,972
Thanks: 578
Thanked 1,368 Times in 646 Posts
Default
Quote:
Originally Posted by Papa_lecki View Post
House prices are certainly going to drop, with the new 1.00% added to the rate for mortgages of those with good credit

“Starting in May, a new federal rule will upend the current structure of the Loan-Level Price Adjustment (LLPA) matrix. Homebuyers with a good credit score could see their monthly mortgage payment rise by over $60 a month, while riskier borrowers will get more favorable mortgage terms because their fees were reduced. It's a move the Federal Housing Finance Agency (FHFA) hopes will address housing affordability challenges in the U.S., but it's come under scrutiny for being unfair and potentially ineffective.”
Giving mortgages to unworthy credit risks worked great in 2008. Socialism at it's finest.