freddie mac guidelines for 5 to 10 properties

Higher rents are encouraging many tenants to take a second look at buying a home, especially in cities where a mortgage payment may be on par or lower than monthly rent. On one hand, rents are hitting new records in markets across the country, as landlords look to make up for lost income during the pandemic. Higher costs and declining real wages weigh heavily on people contemplating housing choices this spring.

Moreover, as companies make a push to coax workers back into offices, the prospect of crowded commutes, higher lunch costs, and higher gas prices make it a hard sell. With the price of gasoline driving price gains, the approaching summer travel season hangs in the balance as Americans take a hard look at what is left of their paychecks at the end of every month. With consumers paying more at the pump, for groceries, clothes and travel, not to mention for necessities like health and child care, businesses are growing increasingly concerned about a potential pullback in spending. Hopes of a cooling may be premature, given the jump in producer prices, which advanced at the fastest pace on record. The 10-year Treasury has been moving toward 2.8% this week, as investors remain concerned about rising prices, even with the slight moderation in the Core Consumer Price Index hinting that we may have hit peak inflation. Markets reacted to the latest data on consumer prices, which accelerated in March to a pace not seen since 1981.

The Freddie Mac fixed rate for a 30-year loan increased for the sixth consecutive week, with a 28 basis point leap to 5.0%, for the first time since May 2010. What Happened to Mortgage Rates This Week: Freddie Mac Mortgage Rates – April 14, 2022

Freddie mac guidelines for 5 to 10 properties