“This week, the mortgage giants Fannie Mae and Freddie Mac announced new guidelines that could add as much as a half point to the interest rate that a fixed-rate borrower pays. The tougher lending rules are set for March. But banks will begin phasing them in next month, when another set of federal rules known as ability-to-repay and the qualified mortgage also kick in. That means banks have less wiggle room to work with borrowers that may be self employed, at a new job or paid on commission. On top of all this, the Fed in January will begin winding down its bond-buying program, which has helped keep mortgage rates low.”
http://business.time.com/2013/12/19/fannie-and-freddie-make-mortgages-more-expensive/
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