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<a title="Reuters Consumer Confidence Hits All Time Low" href="https://www.reuters.com/markets/us/us-consumer-confidence-hits-nine-month-low-housing-market-stabilizes-2023-04-25/?distinct_id=H16bOVLr4&amp;user_email=sjaryno%40it-dreamz.com" target="_blank" rel="noopener"><img src="https://website-images.exitrealty.com/custom-pages/agent-115081-8392e376973c0e5ea0724aa1549da69f.png" alt="Consumer Confidence All Time Low" width="750" height="750" /></a>

 
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US consumer confidence has hit a nine-month low, indicating concerns over the future of the economy and heightening the risk of a potential recession. Americans are planning to cut back on buying household appliances and vacations due to rising inflation and interest rates.

Consumer Confidence Drops To Nine Month Low

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Coming in under the radar with very little reporting on the subject, the Biden Administration has a new rule going into effect that will impact home buyers with a credit score of 680 or higher. Under the rule, if you have a 680 or higher credit score, you will now have to pay a higher interest rate to subsidize lower rates for those who have less than a 680 credit score.
As an estimate, it will cost home buyers $40.00 more per month, but this is an estimate which could cost even more. This simply translates into that because you have good credit, you are punished, so you can subsidize loans that are at a higher risk of default. Each step along the way, home buyers, who work hard to achieve homeownership, are being chipped away at to make it harder and harder to purchase a home.
Now couple this with the fact that we are in a higher interest rate environment and with home prices at the level they are you could now be impacted by how much house you can afford. The argument that it is insignificant or minimal is just smoke and mirrors. Individuals should not be punished because they worked hard to achieve a goal.
<a href="https://www.newsnationnow.com/business/your-money/homebuyers-good-credit-higher-mortgage-rates/">https://www.newsnationnow.com/business/your-money/homebuyers-good-credit-higher-mortgage-rates/</a>

Coming in under the radar with very little reporting on the subject, the Biden Administration has a new rule going into effect that will impact home buyers with a credit score of 680 or higher. Under the rule, if you have a 680 or higher credit score

Good credit is now bad for you and impacts mortgage rates, what it means for homebuyers. Stay informed about the latest updates in the housing market, finance, and property investment.

Hidden Rule Could Cost $40 or More for your Mortgage

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