Today Freddie Mac and Fannie May were taken over by the government. This is a milestone, in the current housing situation and hints at many more changes to come.
Namely, does this signify the bottom of the housing market? Many think so.
Mortgages rates dropped almost a 1/2 percent today for home buyers.
I think the most interesting questions in our area markets is; the upper echelons of the housing markets in the D.C. metro areas are doing quite fine. How will this affect our market?
The government taking over these two firms will positively effect our market in a great way. There will be more money to lend and it will be easier to obtain a loan, for qualified buyers.
If you are in the market to buy a home, or if you are considering to buy a home; seriously think about purchasing by the end of the year before you miss the boat.
I have a great 10 step information guide on how to buy a home and what expect. Just go to www.luxurySalesGroup.com or email me at Realtorpro@aol.com to request your FREE guide. There are also many other guides to choose from on the website.
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