Rates for 30/yr Conventional Fixed loans are 5.00%. Yet rates for 30/yr Jumbo Fixed are 6.50%. That is completely unfair… The Fed, Freddie, and Fannie are pushing down rates on mortgages below $417k, but the rest of us with mortgages over $417k are getting shafted because America thinks anybody with a $417k+ mortgage is rich. Nevermind that you might live in a region of the country where homes are expensive, but your still eating Mac-n-Cheese for dinner and clipping coupons just to survive another day. Completely unfair class warfare going on.
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3 Comments
Class warfare is shameful. Socialism is being pushed down our throats. Whatever happened to freedom.
In fact, might this even be considered discrimination?
Sounds like you answered your own question. Would you like to ask something else?
“because America thinks anybody with a $417k+ mortgage is rich.”
Its not necessarily America. They don’t set the rates on loans. The banks do. If anybody is being unfair, its the banks.
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