Following the 'take over' of the two mortgage giants, rates have fallen off the table. All the Fed's previous rate cuts are now acting on mortgage rates. That was the intention when the cuts were announced, of course. Rates did not fall due to fears of ongoing instability in the credit markets. (Which of course did happen.)
Now that we have stepped in to bail out Fannie and Freddie, we may see lower rates for awhile. Hey -- why not? We (all of us taxpayers) will be paying for the carnage... we might as well get something out of it.
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I sure HOPE we get a return on our involuntary "investment" into Fannie and Freddie! I've been getting shortchanged enough on my investment in the government as it was, and now this?
Thanks for continuing to keep us informed, Bruce! I sure hope to be back in the Albuquerque market in a couple of years, and thanks for your continuing help! After the expensive repair/clean/paint trip back in July, I've got my house rented for at least another year, now.
Cheers,
-Greg F. (Sooner Tr)
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