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MoneyGuy · 03-07-2019, 11:12 AM

I’m curious what folks, including mortgage brokers and realtors such as Travis, think about the mortgage stress test rules? I’m a financial planner and I think that the rules needed to be tightened up but maybe the regulators went too far.

I have realtor friends complaining about the impact on house sales. That industry is in the doldrums. One concern is the requirement to qualify based on the prevailing interest rate plus 2%, which has shut out some potential buyers. The previous rules made it too easy to buy and people would get in over their heads, and could be in big trouble if interest rates were to rise significantly.

03-07-2019, 11:12 AM	#1
MoneyGuy Franchise Player Join Date: May 2006 Exp:	Mortgage stress test rules I’m curious what folks, including mortgage brokers and realtors such as Travis, think about the mortgage stress test rules? I’m a financial planner and I think that the rules needed to be tightened up but maybe the regulators went too far. I have realtor friends complaining about the impact on house sales. That industry is in the doldrums. One concern is the requirement to qualify based on the prevailing interest rate plus 2%, which has shut out some potential buyers. The previous rules made it too easy to buy and people would get in over their heads, and could be in big trouble if interest rates were to rise significantly.