The goal of reform is to stabilize the overall health of the nation’s housing market. But what shape will reform take, and how will this affect you?
Tag Archives | Freddie Mac
The Treasury Department will hold a meeting today to discuss the mortgage market and the future of Fannie Mae and Freddie Mac. There’s growing concern that the government may interfere with the markets which could devalue mortgage bonds. This uncertainty, along with the Fed saying they will buy Treasuries, not mortgages, has caused mortgage bonds to sell-off today.
The 30-year fixed mortgage rate has hit another record low for the third week in a row according to Freddie Mac.
The Wall Street Journal reported late last week that 15-year fixed rates were at an all-time recorded low. We’ve never seen average 15-year rates this low, or at least since Freddie Mac began tracking them in 1991.
Do you ever wonder where the funding for your mortgage comes from? Or what does Fannie Mae or Freddie Mac do? And lastly, you’re probably thinking: what do these questions have to do with me?
Today marks a a pretty significant turning point for the mortgage industry. As of March 31, the Federal Reserve is no longer buying mortgage-backed securities (MBS). According to Forbes, the Fed poured $1.25 trillion dollars into buying these securities to provide capital for lenders and investors.
You hear it on the news all the time: mortgage rates are not going to stay this low for long… Well, that time may have finally come. Reuters reported today that mortgage rates rose for the first time in three weeks to over 5%. The numbers are pulled from a survey from Feddie Mac, which is the second largest U.S. mortgage finance company.
Yahoo! News: Rates on 30-year mortgages fell this week to the lowest level on record after the Federal Reserve launched a new effort to assist the staggering U.S. housing market.
All over the news, stimulus talk has focused on bolstering the ailing economy. But how will the stimulus package affect average homeowners hoping to refinance? Or those planning on a home purchase?
Deck the halls with low mortgage rates, fa la la la la, la la, la la. Tis the season for lower mortgage rates, fa la la la la, la la, la la.