mortgage, Fed rate
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Mortgage rates inched up this week but stayed within a narrow range under 7%, according to the latest Freddie Mac Primary Mortgage Survey.
A top housing finance regulator announced that Fannie Mae and Freddie Mac would allow lenders to use the traditional FICO score or one from a rival, VantageScore.
With Trump’s tax overhaul now in the rearview mirror, a potential Freddie and Fannie conservatorship release could move up the docket.
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Money Talks News on MSNBillionaire's $1B Bet Could Send Your Mortgage Rates SoaringThe Trump administration is considering privatizing Fannie Mae and Freddie Mac to cut federal deficits. First-time buyers and those without perfect credit could find themselves locked out of homeownership.
The average rate on the 30-year fixed mortgage rose this week to 6.72%, according to the latest Freddie Mac data released on Thursday. That is up from last week's reading of 6.67%.
A growing number of homeowners say no rate would make them sell, making it even harder for buyers to find homes.
Effective immediately, Fannie and Freddie will allow mortgage lenders to use VantageScore credit ratings to assess creditworthiness.