Fannie Mae-No Politics (FNMA)

[Louie_Louie]

That's happening here in Michigan? Rocket and Quicken both laying off. It's been popping up in the news here more and more.
Rates get high, homes will start to depreciate to attract fewer buyers from the high rates they can't afford, companies doing mortgages start pulling out the stops to be more competitive with underwritting/labor cost. Cyclical like automotive, except automotive usually rolls in 4-5 year cycles of boom and bust. Housing has varies cycles due to whoever is in charge in DC.
Basically higher rates puts money into the pockets of the lenders and steals from the barrowers, while causing sellers to lose money on the value of their home. Win for the banks maybe?

Crooks put a ton of free $$$$$ out there. Now inflation run amok and rates skyrocketing to try and sop up all that excess.