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Why second mortgages could make a comeback
Freddie Mac has a new revenue stream in its sights, thanks to the record $17 trillion of home equity sitting untapped in U.S. houses. The big picture: An estimated $850 billion of that home equity is found in homes with first mortgages that were purchased by Freddie Mac — a so-called government-sponsored enterprise, or GSE. Freddie wants to start buying second mortgages written on those homes.
Home prices come into focus as key issue in 2024 election
In most presidential election years, home prices aren’t a key issue for voters or a major campaign talking point. Consider it another way in which the 2024 election is anything but typical. With mortgage rates up and home prices out of reach for many first-time buyers, the affordability crisis is increasingly in the spotlight as campaign season heats up. In March, President Biden delivered a speech on home prices in the key swing state of Nevada after proposing a $10,000 tax credit for first-time buyers and those selling their starter homes. Donald Trump fired back in a campaign video, accusing Biden of “waging full-scale war on the suburbs”...
Today’s mortgage rates for May 13, 2024
Looking for the most up-to-date mortgage rates to empower your purchasing or refinancing decisions? We’ve got you covered. Here, you can view today’s mortgage interest rates, updated daily according to data from Bankrate, so you can have the most current data when purchasing or refinancing your home. 30-year...
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