Home › Forums › Housing › Gov’t to target 4.5% for mortgages › IF the 4.50% rate actually
IF the 4.50% rate actually happens, the restrictions and fees may be obscene, and not everyone will qualify.
I doubt it’s going to be a no cost loan. For those that qualify, the rate is 4.99% RIGHT NOW.
If you don’t qualify, the rate doesn’t matter.
The govt doesn’t care about Southern California, they are trying to save the country.
Plenty of people in trouble have mortgages for less than $200K.
On a $200K loan the difference between 4.5% and 5% is $60 a month. On $300K it’s $90 a month. Is this going to save the world ??
People with $100K loans are losing houses too.
It may not apply to refi’s, just purchases.
Eventually rates will go much, much higher.
Today’s rates are a gift, but ppl want to think that they will qualify if rates go lower. HLS
