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Fannie Mae Info

What do Fannie Mae's changes mean to you?

Positive News for Mortgages:

You probably heard news stories about Fannie Mae and Freddie Mac but now you want to know
how it'll affect mortgages. Here you go:

1. Fannie Mae, the guaranteers of notes is now under control of the government. The government felt Fannie Mae and Freddie Mac could no longer fulfill their mission statement to provide liquidity, stability and affordability in the housing markets.

2. This move created more confidence in investors, foreign and U.S. Now that there's once again more investors, it has helped ensure that Fannie Mae did not implode and send this industry even deeper.

3. Investors pouring money back into Mortgage Bonds and Treasury Securities has brought
interest rates back down
September 10th rates were 5.5% for a 30 year fixed. (APR 5.613%) We've been receiving price imporvements non stop the the last 2 days. 

4. This move has no less than saved our industry for the time being. Sure taxpayers will be paying the price, but the alternative would have been a guaranteed recession - much much worse than any of us have seen thus far.


Carmel Mortgage keeps apprised of our industry's news and how it affects you.

Call us today 831-625-3939

  Carmel Mortgage
29 Navajo Drive
Salinas, CA 93906
Phone (831) 275-0380
Fax (831) 536-1803

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