Released: September 08, 2008

What the takeover means for your mortgage

Source: Washington Post (Free Registration)

Fannie Mae and Freddie Mac are the largest buyers of U.S. mortgages. Their takeover is expected to ripple through the economy, affecting U.S. home buyers directly and indirectly. Here are answers to common questions about the mortgage finance giants and explanations on how you might be affected by yesterday’s news.

Q. What does the takeover of Fannie Mae and Freddie Mac mean for mortgage rates?

A. The government takeover is expected to push mortgages rates down.

Read Full Article: What the takeover means for your mortgage