Derek Kreifels: Biden Administration Gives a Kick in the Teeth to Americans with Good Credit Records
American families will have to pay out millions upon millions of dollars more in what amounts to an unfair middle-class tax hike.
For those Americans who worked hard and made sacrifices along the way to establish a good credit record, the Biden administration has a special prize: a big kick in the teeth.
Under new rules from the Biden administration’s Federal Housing Finance Agency (FHFA), home buyers with higher credit scores will pay higher fees on their mortgages. Those with lower credit ratings and who put less money down will get more favorable mortgage rates than those for which they would otherwise qualify. ---More...
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