In case you have not heard ha ha – big news in the mortgage industry… It was announced that the government is bailing out Fannie Mae and Freddie Mac. I’m including links to a couple of articles that provide great info, but the bottom line of how this affects all of us right now is that mortgage rates took quite a tumble today! We are seeing about a .375% drop in many programs. This is great news!!
US government takes on big role in mortgage market: Financial News – Yahoo! Finance http://biz.yahoo.com/ap/080908/mortgage_giants_crisis.html <http://biz.yahoo.com/ap/080908/mortgage_giants_crisis.html>
Fannie, Freddie bailout greeted with joy and anxiety: Financial News – Yahoo! Finance http://biz.yahoo.com/rb/080908/fannie_freddie.html <http://biz.yahoo.com/rb/080908/fannie_freddie.html>
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