30-year, fixed-rate mortgage finishes year near record lows

EFFECTIVE WITH APPLICATIONS TAKEN ON OR AFTER JANUARY 10, 2014, both Fannie and Freddie will rely on selling lender Representations and Warranties that all loans purchased are, in fact, qualified mortgages or are otherwise exempt from the ability-to-repay rule (i.e. the loan is secured by an investment property).

Near record low mortgage rates should further drive the housing market recovery over the near term," said Frank Nothaft, Freddie’s chief economist. Meanwhile, the popular 30-year fixed-rate mortgage.

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