RW media reporting higher mortgage rates for good credit buyers

[Beatlelvr]

Anybody see this? Newsnation and Fox are reporting people with high credit rating will pay higher rates to offset those with lower ratings. Doesn't make sense, if true, in year before an election.

[Turbineguy]

1. Maybe it's a test.

They need people who believe them. It's like the old Get Smart line, "Would you believe......"

[underpants]

2. CNN recap here

https://www.cnn.com/2023/02/22/homes/biden-housing-fha-insurance/index.html

[FoxNewsSucks]

4. That article sounds reasonable. The rightwing crap I heard is

making it sound like it's just another socialism handout to "poor people".

[FoxNewsSucks]

3. I heard that story. They are claiming that the extra

will go to subsidize poor people.

It's not true, but try telling that to the slack-jawed drooling MAGAts who believe all the other lies coming from Fox, OAN and NewsMax.

[underpants]

5. MSM will follow right along I'm sure.

[multigraincracker]

6. Looking at a new car in the next few months.

Plan on paying cash. Have a great credit score because I never borrow money for longer than the end of the month.

[Rebl2]

7. I thought

I heard on local news rates had come down a little bit for mortgage loans. Then a day later on national news I heard rates were a little higher.

[Thunderbeast]

8. I am still confused...

The FoxNews rant claims that the program subsidies for folks with low credit scores are paid for by higher rates for those with good scores. I see no reference to the higher costs in the CNN article.

The article seems to infer that if you have good credit, you would be unlikely to use an FHA mortgage, and that conventional loans are not impacted by higher rates.

I have to believe that the rage is fueled by a kernel of fact somewhere...but where?