Mortgage Rate drop for Investment Properties and 2nd Homes

[Patrick Martin]

Effectively immediately you should see a significant improvement in mortgage rates on Investment Properties and Second Homes

FHFA announces they are suspending certain provisions from the preferred stock purchase agreement, which caused big hits to the pricing adjustment on Investment properties and Second homes, among many other affects a.k.a higher interest rates.

combined with the removal of the adverse market fee earlier this summer there is a real opportunity to refinance any investment property or second home purchased/refinanced since the summer of 2020