Home loan money options from inside the a top interest rate ecosystem
For the past 2 years, interest rates have increased off historic downs to as high as 7% having 31-12 months fixed-price mortgages. Interest levels features remained raised within membership one to have not been seen for nearly 20 years. According to recent CFPB analysis regarding quarterly HMDA investigation, these higher costs have already contributed to increased monthly obligations and you can higher loans-to-earnings percentages to have mortgage borrowers. As a result on the increasing home…
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