Well, it’s done. The US (taxpayers like you and me) has officially committed to bailing out Fannie Mae and Freddie Mac. In fact, this is good news for real estate and lending. Bad news if you own regular shares of Fannie and Freddie (since the plan calls for issuance of “senior” preferred shares which will water down regular share holders).
This should stabilize the companies and allow them to continue to offer liquidity to the mortgage industry. This should also ease upward pressure on interest rates, also good news for buyers and refinancers.
If you have further questions I'm happy to help. tpina@interorealestate.com
Sunday, September 7, 2008
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