We've been reading the Journal, watching CNBC, how is the whole Fannie Mae/Freddie Mac bailout going to effect citizens of the U.S.?
Well, in the short term.......better lending rates. A local credit union is quoting 5.375% for a 30 yr fixed mortgage TWO DAYS AFTER the federal government announced its takeover for Fannie and Freddie.
The extent to how the takeover will effect share holders is yet to be determined, but rates on the secondary market are still incredibly favorable to qualified borrowers.
I'm not going to give you a brainwashed answer of "Everything is great", but everything is pretty darn good for American mortgage borrower right now.
Get out there, find your dream house, and like I always say........."Make it happen"
Grant Schultz
VersaLand
Grant Schultz of VersaLand is an Iowa State University College of Agriculture Alum, and an expert in Agricultural 1031 Exchanges for estate planning. He can be reached at (319)277-1199 or at www.VersaLand.com
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