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Home / Blog / Headlines & News / Mortgage Rates Will Probably Rise if Congress Overhauls Fannie Mae and Freddie Mac

Mortgage Rates Will Probably Rise if Congress Overhauls Fannie Mae and Freddie Mac

April 30, 2014 By Mary Catchur

Mortgage RaresThe Wall Street Journal reports that mortgage rates are expected to rise if congress passes legislation to reform Fannie Mae and Freddie Mac.

You may be keeping up with news about congressional legislation that reform Fannie Mae and Freddie Mac. Though we don’t know which bill will gain the most traction, or what reforms will be enacted, the consensus is that mortgage rates will go up as a result of congressional action.

Read The Wall Street Journal article: How Much Will Mortgage Rates Rise In Fannie, Freddie Overhaul?

So how much could rates rise? Estimates vary depending in part on how regulators interpret and implement the new rules. Fannie estimates that rates would rise by around 0.5 and 1 percentage points from current levels, though borrowers with small down payments and weaker credit could see rates rise by more than 3 percentage points. Borrowers with strong credit and large down payments could see rates fall slightly.

Fannie estimates that if the capital cushion is dropped to 5%, however, then rates for more borrowers might actually be lower than current levels, and rates for all borrowers would rise by an average 0.2 percentage points.

Freddie constructs four different scenarios that vary depending on how regulators calibrate capital standards and on the rate of return sought by private investors. Under the low- and mid-cost scenarios, rates rise by 0.1 and 0.6 percentage points, respective. Under the high- and extreme-cost scenarios, rates rise by 1.4 and 2.2 percentage points, respectively.

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Filed Under: Headlines & News Tagged With: Fannie Mae, Freddie Mac, mortgage rates

Opinions, estimates, forecasts and other views contained in this page do not necessarily represent the views of Marimark Mortgage or its management and should not be construed as an offer to provide financing at the rates or terms mentioned. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval. Although Marimark Mortgage attempts to provide reliable, useful information, it does not guarantee that the information is accurate, current or suitable for any particular purpose. Information from this page may be used with proper attribution.

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