What the Fannie Mae and Freddie Mac take over means to Western New Yorkers

The Government take over of Fannie Mae & Freddie Mac

What does it mean in Western New York?  We will have to wait and see, but if you are getting ready to purchase a new home in the coming months it could mean that loan rates could go down.   Then again, it may not have any affect.  We are just going to have to wait and see as the dust settles.

It has been all over the news all day today.  The US government take over was not a big surprise to anyone.  It is worrisome that it will cost taxpayers in the end.

In an aggressive move, the government takes over Freddie Mac and Fannie Mae to help the current real estate market.  Both companies will be operated by regulators until they are stabilized and both company’s CEO have been replaced.

Read Also: What do you think of the Housing Resuce Bill?

Additional Reading:

• Fannie and Freddie’s Bust and Deeply Flawed Government Bailout
• Mortgage Giant Overstated the Size of Its Capital Base
• Treasury set to bail out Fannie Mae, Freddie Mac
• Fannie/Freddie Bailout News May Propel Banks (WFC, PNC, USB)
• The unprecedented bailout of Fannie Mae and Freddie Mac is official
• Excerpts from the Press Release about the Death of Fannie and Freddie…..
• Paulson Implemented Taxpayer Bailout Of Fannie Mae & Freddie Mac – The National Debt Just Doubled
• Freddie Mac and Fannie Mae US Federal Government Bail-Out

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