RFK Jr. wants to give everyone a 'rich uncle' to cosign their mortgages\u2014Uncle Sam.
Robert F. Kennedy Jr., who's running in the Democratic primary alongside President Joe Biden but is currently trailing behind him by a huge margin, has announced his plan to cut mortgage rates by $1,000 a month.'I have a plan that will lock home loans at 3 percent interest for first-time homebuyers, lowering your mortgage payments by $1,000 a month—and it won't cost the government a cent,' he wrote on X, formerly known as Twitter, on Thursday. 'Check it out,' he added.
This jump in price led to a crisis of affordability which reached a peak last summer, when demand finally started to slide down as many aspiring homebuyers found themselves squeezed out of the market entirely by high prices and suddenly rising mortgage rates.According to the latest data by the Federal Home Loan Mortgage Corporation, better known as Freddie Mac, the U.S. 30-year fixed-rate mortgage rate—the most popular among American borrowers—surged to 7.49 percent on Thursday, up from 7.
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