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A new Biden administration rule hikes fees on creditworthy home buyers while giving a discount to those more likely to default.

By Jeff Jacoby, Patriot Post, April 26, 2023

You’ve always dreamed of owning your own home. For years you’ve worked to make that dream a reality, putting part of each paycheck aside as you save up for a down payment. You know that to get a favorable mortgage rate you’ll need to have a good credit score, so you’ve been scrupulous about paying your bills on time, never maxing out your credit cards, and sticking to a budget you can afford.

Now, at last, you’re ready to become a homeowner. Thanks to your excellent financial habits, your credit score is a solid 740. You’ve found the house of your dreams and applied for a mortgage loan. You’ve accumulated enough in savings to be able to make an extremely respectable down payment of 20 percent. Based on everything you’ve learned about mortgage borrowing, that should more than qualify you for the most favorable interest rate and fees available. Right? …

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