Does the thought of buying property in a high-interest rate environment make you cringe? Here are a few reasons why people are still buying while interest rates are higher.
Are You Throwing Away Money by Renting?
Are you ‘wasting money’ by renting? You may have heard this from well-intentioned family and friends who like to remind you that you're paying your landlord's rent or money spent on rent is money you'll never get back.
While this is technically true, renting does make sense for a lot of people and there is nothing wrong with it. Here are some benefits to renting:
Big Changes to Mortgage Fees
The Federal Housing Finance Agency (FHFA) recently announced changes to Fannie Mae’s and Freddie Mac’s fee matrix.
Referred to as Loan Level Price Adjustments (LLPAs), they use a pricing matrix to determine your loan fees and interest rate based on your credit score, the loan-to-value ratio, occupancy (owner vs non-owner occupied homes), and most recently, your debt-to-income ratio.
