I’m very, very excited that we’re rolling this out — this is going to be a big deal for a lot of people,” Bob Walters, CEO of Rocket Mortgage, told MarketWatch in an exclusive interview.
Unlike low or no down payment plans that flourished and resulted in the subprime loan crisis — where lenders made loans to people who were eventually unable to repay them — requiring borrowers to meet specific and stringent credit standards will prevent the same scenario from repeating again, Walters stressed.
MarketWatch May 22, 2023
30-Year Mortgage Rates Approaching 7 Percent Again, Housing Will Suffer
The 30-year mortgage rate is 6.90 percent.
Mish 20 May 2023
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