Fannie Mae - Freddie Mac Bail-out? - 07/16/08 04:04 PM
There are a lot of mixed feelings at present about the Feds decision to stand behind the two largest mortgage holders in the secondary market.  Secondary market refers to the business entities which purchase mortgage paper from primary lenders, like your bank.  Purchasing these mortgages, usually bundled, from your bank,  frees up capital for the banks to continue making loans in their local markets without carrying that paper for 15 to 30 years and overburdening that portfolio.  Fannie Mae, begun by FDR was the first, and Freddie Mac the second of the government sponsored lenders, though set up as private enterprises.
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National Association of Realtors Reports Increase in Existing Home Sales - 07/03/08 12:07 PM
According to the National Association of Realtors, existing home sales increased nationwide in May as buyers finally began to take advantage of the lower home prices.  Foreclosures and short sales, no doubt, influenced this increased activity in the market.  Actual numbers vary from region to region, but the big picture is that the pendulum is beginning to swing the other way, with this 2% increase from April to May.
It remains an excellent time to buy a home.  As I have stated in previous contributions, when this inventory of existing homes works its way down, prices will start back up as … (0 comments)

 
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L Dean Davidson

Waxhaw, NC

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Keller Williams Realty - Ballantyne

Office Phone: (704) 887-6600

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