Fannie Mae raising mortgage modification interest rate yet again

Fannie Mae is set to raise the benchmark interest rate for its Standard Modification program for the second month in a row. Beginning July 14, Fannie Mae will raise its required interest rate for standard modifications from 4.125% to 4.25%. The standard modification rate hasn’t been that high since Nov. 2014.

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On Wednesday, Fannie Mae and Freddie Mac announced the increase of their benchmark interest rate for standard mortgage modifications to its highest level in 10 months, according to a HousingWire report. Effective Dec. 14, standard modification interest rates will increase from 3.5% to 3.875%.

After a slow fall and winter that had mortgage rates rising and affordability concerns. Unemployment Rate Back Down Below 4 Percent in February.. There was plenty of interest from home buyers, but too few homes for sale and high. Fannie Mae's quarterly Mortgage Lender Sentiment Survey asks senior mortgage.

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New rate effective July 14. Fannie Mae is set to raise the benchmark interest rate for its Standard Modification program for the second month in a row. Beginning July 14, Fannie Mae will raise its required interest rate for standard modifications from 4.125% to 4.25%. The standard modification rate hasn’t been that high since Nov. 2014.

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Comparing the Performance of home affordable modification Program (HAMP) Modifications and Non-HAMP Modifications: Early Results1 I. INTRODUCTION Since the inception of the Making Home affordable program (mha), more than 1.3 million borrowers have had their first lien mortgages permanently modified through MHA’s Home

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Normally, Fannie and Freddie raise or lower the benchmark interest rate in sync, but while Fannie sent out a notification to mortgage servicers that it was decreasing the benchmark rate from 4.125% to 4%, Freddie did not. As it turns out, it just took Freddie a little longer to update its website with the matching interest rate cut.

Fannie Mae’s chief economist, said that the downbeat sentiment was particularly striking against the backdrop of government policies designed to help home owners, such as loan modification programs.

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