WASHINGTON—The Biden administration is expected to trim costs under a mortgage program for first-time and lower-income buyers, a bid to boost affordability while median home pricesThe
Federal Housing Administration will reduce the fee borrowers pay to have their mortgages insured by the agency by about $800 a year on a typical loan, or 0.3 percentage point, the people said.
The Tax Cuts and Jobs Act of 2017 put a $10,000 cap on the SALT deduction for the years 2018–2025. If the POTUS & SenSchumer really wanted to help homeowners they would raise the cap or fully restore the SALT tax deduction!
This will just raise prices/inflation for everyone else. We need less Communist like control from the Biden administration, not more.
Every time government tries to fix a problem they created, it always gets screwed up even more.
If $65 a month is the difference between 'affording' a house vs not, you shouldn't be buying in the first place. That's one water heater repair away from putting you into delinquency
What do they hope to achieve? If anything the prices will go even higher as more willing buyers mean more demand...
Cutting the PMI for people that couldn't afford to make a proper down payment which means they probably can't afford the home...what could possibly go wrong? 🤦♂️
Keep that inflation coming!!