low interest rates: Low Interest Rates Caused by Fannie Mae and Freddie Mac Takeover
- 09/15/08 10:55 AM
Interest rates are the lowest we've seen in 5 months, starting at around 5.5% today! What caused this? The takeover of Fannie Mae and Freddie Mac by the Feds; the two mortgage firms will now be overseen by the Federal Housing Finance Agency. The government will only temporarily control these firms until they "are on a stronger footing". President Bush says of the takeover, "Americans should be confident that the actions taken today will strengthen our ability to weather the housing correction and are critical to returning the economy to stronger sustained growth in the future." Read the article "U.S. Seizes Fannie … (3 comments)
Interest rates are the lowest we've seen in 5 months, starting at around 5.5% today!
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