New Mortgage Refinance Programs from Fannie Mae and Freddie Mac are Expanding to Reach More Homeowners

Industry Update
November 11, 2021

Source:  CNBC

The goal of Fannie Mae’s and Freddie Mac’s refi programs is to help low-to-moderate income households take advantage of historically low mortgage rates.  Borrowers whose earnings are not above their area’s median income will generally be eligible if they can meet a different requirement.  The average rate on a 30-year fixed rate mortgage is 2.78%, according to real estate site Zillow.

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