Stability and continued liquidity; what does it mean to sacramento?
September 8th, 2008 Categories: Mortgage and Loans, Real Estate Trends, Sacramento Home Buyers
Fannie Mae and Freddie Mac, the largest buyers of mortgages in the secondary market have been placed in a government conservatorship; the Treasury Department and new leaders have replaced prior leadership at the two mortgage giants. The government is taking as much as an 80 percent ownership of the two over the next 18 months.
How will it affect our market here at home?
Well, anything that will add strength, liquidity and confidence to the secondary market is a good thing and will add to available programs and $ for mortgages…
I just wonder, though, how long has this been in the works; in July, Congress passed legislation granting the government the authority to bail out the government-sponsored enterprises (GSEs).
Hi Forth,
Good question. We will see. I posted the view of my “resident expert” on my blog. Check it out, I think his perspective may entertain you!
Rob