The federal government has stepped in and bailed out mortgage giants Freddie Mac and Fannie Mae; a move that can help bolster the U.S. housing market.
As Realtors, that's the best news we've had in a long time as we struggle through this market downslide.
As taxpayers, that's another story. But given the alternative of letting Freddie and Fannie continue to struggle AND the housing market along with them, this is good news.
Interest rates will surely go down some as more money will be freed up for lenders to make loans.
We'll just have to wait and see though if this is just a band-aid for a severe wound or a fix for a big problem.
Let's all keep our fingers crossed that the latter is the one that takes hold!
I welcome your comments. Especially ones from my mortgage friends.
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