Personal Finance Daily: How last year’s housing market affected mortgage denials and what Fannie Mae, Freddie Mac using alternative credit scores means for potential homebuyers

by | Oct 24, 2022 | Stock Market

Hi, MarketWatchers. Don’t miss these top stories.Fannie Mae, Freddie Mac to use alternative credit scores — what that means for potential homebuyers The federal government has approved two credit score models, the FICO 10T and the VantageScore 4.0, for use by Fannie Mae and Freddie Mac. Read More

U.S. tosses 300 lbs. of plastic per person annually. Why we’re getting worse at recycling. The U.S. tossed 51 million tons of wrappers, bottles and bags in 2021. Some 95% ended up in landfills, oceans or scattered in the atmosphere, says Greenpeace. Read MoreCheck out GMC’s new electric Sierra truck: up to 400 miles of range, luxury cabin For the 2024 model year, GMC’s all-electric Sierra full-size truck will have up to 754 hp and can be used as a mobile power source, priced around $50K. Read MoreHow last year’s housing market affected mortgage denials An analysis of the 7.1 million mortgage applications filed in 2021 reveals the hot housing market changed home loans in several dramatic ways. Read MoreThe 2024 Cadillac Celestiq is as absurdly over-the-top as a Caddy gets The hand-built, battleship-sized electric car harks back to Cadillac’s most preposterous years. Is it practical? Stupid question. Does it come in pink? Read MoreA bill in Congress wants to lower merchant ‘swipe’ fees, but will it kill your credit card rewards? Legislation winding through Congress could kill the rewards and perks that cardholders have enjoyed for years. What it could mean for your wallet if it passes. Read MoreMortgage bankers expect rates to drop to 5.4% in 2023. Here’s what that means for home prices. ‘Our forecast is for home price growth moderation to continue,’ Joel Kan, vice president and deputy chief economist at the …

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