Is Freddie Mac for Real?

By
Real Estate Agent

I just read an article on DSNEWS about the low interest rates from Freddie Mac, it seems that both fixed and ARM are at all time lows, or at least the lowest in 50 years, per article.

I guess that is good, hopefully the banks decide to lend and some good buyers can take advantage of the low rates, but what made my read the article twice is the following quote from some executive at Freddie Mac "both fixed- and adjustable-rate mortgages have reached all-time record lows, providing further incentive for homeowners looking to refinance."

Now how many home owners have enough equity to refinance to this low rates. Now between rates, inventory, prices and the amount of agents and loan offiers, left in the business, getting lower and lower everyday, this housing market is starting to sound like a Ludakris song, I can hear the chipmunks singing the hook.

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Rainer
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Jose Rivas

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