In the mortgage industry, the initial reaction to President Donald Trump’s proposal to cap credit card interest rates at 10% has been concern that the policy could ultimately backfire on would-be homebuyers.

The cap might seem beneficial on paper, but the long-term consequences, including reduced credit availability, could outweigh the benefits, mortgage professionals told HousingWire. 

Speaking at the World Economic Forum in Davos, Switzerland, on Wednesday, Trump said that rising credit card debt has become one of the biggest barriers to saving for a down payment on a home. According to him, profit margins for credit details ⇒

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