‘Joe Homeowner’ Would Win and Lose from Mass Refinancing

‘Joe Homeowner’ Would Win and Lose from Mass Refinancing

“The notion that Fannie Mae or Freddie Mac or FHFA could wave a wand and reset the interest rates on mortgages should be understood in its simplest terms as transferring wealth from one group of people to another,” Edward DeMarco, acting director of the FHFA, said in an interview. Photo: Brendan Smialowski/Bloomberg