For borrowers, the new rule could make it harder to qualify for ARMs since all lenders will be using rates that are higher than the initial rate available on this loan. Experts say it could lead to fewer ARM originations once the rule is implemented.
QM rule: A potential stumbling block for ARMs
Most Popular Articles
Latest Articles
Tri-state area housing shortage could cost the region economically
The tri-state area of New York, New Jersey and Connecticut may face a housing shortage of 920,000 units by 2035.
-
Remote reverse mortgage counseling now permanently permitted in Massachusetts
-
NAR settlement terms slated to go into effect in mid-August
-
eXp acquires 500-agent independent brokerage in Florida
-
FHA extends foreclosure moratorium on Hawaiian island of Maui
-
RealReports partners with New England-based MLS