toxicbitcoiner on Nostr: IIRC, as it stands, Freddie would also honor the rate of the 1st mortgage for the ...
IIRC, as it stands, Freddie would also honor the rate of the 1st mortgage for the 2nd, which will in many cases likely be lower than the current market rate. Aka stimulus targeted to homeowners (boomers, the biggest voting block) at the expense of everyone else. Even absent that rate parity, it’s still State intervention in a market. The loans are backed by the State, which gives Fannie, Freddie, etc a perverse incentive to issue riskier loans. Much like student loans. Bubblicious.
Published at
2024-06-22 12:38:31Event JSON
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