Quote:
Originally Posted by MZ DAIZY
https://www.newsweek.com/biden-raise...rowers-1795700
<< Homebuyers with good credit scores will soon be facing higher mortgage fees as the Biden administration seeks to close the racial homeownership gap and get more first-time and low-income buyers through the door. >>
W….T….F…. This clown is purposely trying to kill the middle class and this proves it. Penalized for having good credit? 
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Keep in mind that:
1. This does not apply to current homeOWNERS, and this applies to homeBUYERS. If you are a current homeowner, your mortgage payment is fixed (unless you have an ARM).
2. This also depends on the loan type homeBUYERS will move forward with. LLPA generally apply to Conventional Loans, and not any government-backed loans (i.e. FHA, VA, etc.).
3. LLPA's were introduced after the housing market crash in the late 2000's and basically comes in the form of fees typically through higher rates.
https://themortgagereports.com/6866/...-mortgage-rate
The biggest takeaway: The US is still experiencing a severe housing shortage (about 15 years of underbuilding), and paired with rising rates, you have less homebuyers now than before.