If talks of doing away with Fannie Mae and Freddie Mac are enacted upon then the conventional 30-year mortgage may well have to re-invent itself. They provide almost 90% of the secondary mortgage market which is too large to ignore. So the question is….how will the private sector lenders react?
The next 18 months could see substantial changes to the way American's finance their homes. With interest rates still at historical lows and conventional 30-year mortgages still being guaranteed this is the time to buy a house if you have the desire, credit and stability.
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