Today’s Capital Markets Wrap (3PM ET) will cover how mortgage rates may be impacted by the lack of a traditional flight to quality despite rising international unrest, alongside proposed limits on institutional SFR purchases, rate sheet changes, recent presidential commentary on GSE bond buying, and… the proposed credit card interest cap. “Rob, yesterday’s Commentary had a piece on President Trump’s proposal to cap credit card interest rates at 10 percent. Will it impact lenders?” One quick thought is, “If mortgagees are relying on borrowers refinancing their 25 percent credit card debt using home equity, but a person can obtain a 10 percent credit card online and quickly with no ‘hoops’ to jump through, some percentage will do that and not refinance their home using a mortgagee.”
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