GSE Takeover Already Lowering Rates, But What About Affordability, Availability and Underwriting?
September 11, 2008
Whether the federal government’s takeover of Fannie Mae and Freddie Mac was warranted by their economic fundamentals remains a matter of debate, but it’s already having a positive effect in terms of lowering mortgages rates for new homebuyers and people looking to refinance. That’s expected to continue. The key long-term question for the mortgage market, however, may be whether an infusion of...