$200 Billion To Help Stabilize Mortgage Markets
SOURCE: Reuters
Between relief to the Federal Home Loan Bank System as well as Fannie Mae and Freddie Mac, it is hoped that the mortgage markets may begin to stabilize. These changes in the rules and additional money being made available may be able to help dramatically.
Restrictions are being eased for both Fannie Mae and Freddie Mac. This will allow them to take on a larger role in helping to settle the mortgage markets. They will be able to guarantee about $2 trillion in mortgages this year as the Office of Federal Housing and Enterprise Oversight said the restrictions would be relaxed immediately.
The Federal Home Loan Bank System will be allowed to double their mortgage holdings to about $300 billion as more relief may be available to them as well. With these continued influxes of money to the mortgage market, it is hoped that the Fed's attempts to spur on the economy by lowering the overnight interest rates will make a difference to ease financial market stress.
Read full report »
Between relief to the Federal Home Loan Bank System as well as Fannie Mae and Freddie Mac, it is hoped that the mortgage markets may begin to stabilize. These changes in the rules and additional money being made available may be able to help dramatically.
Restrictions are being eased for both Fannie Mae and Freddie Mac. This will allow them to take on a larger role in helping to settle the mortgage markets. They will be able to guarantee about $2 trillion in mortgages this year as the Office of Federal Housing and Enterprise Oversight said the restrictions would be relaxed immediately.
The Federal Home Loan Bank System will be allowed to double their mortgage holdings to about $300 billion as more relief may be available to them as well. With these continued influxes of money to the mortgage market, it is hoped that the Fed's attempts to spur on the economy by lowering the overnight interest rates will make a difference to ease financial market stress.
Read full report »
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