With the US Treasury purchasing $600 billion in mortgage backed securities mortgage rates are falling. There is also a plan being floated where the government would set the 30 year mortgage rate at 4.50% on home purchases – almost 1% below current market rates.  The idea being of course that the whole thing started with [...]

A foreclosure break for the holidays. Freddie is announcing a suspension to all foreclosure activity from the day before Thanksgiving to January 9, 2009. Here is what Freddie has on its website: McLean, VA – Freddie Mac (NYSE: FRE) today announced it has ordered its national network of mortgage servicers and foreclosure attorneys to suspend [...]

Over the past month or so Fannie Mae and Freddie Mac have made a few announcements regarding maximum loan levels. For some odd reason I didn’t post these changes as they were announced. Perhaps I was distracted by other things going on. So, I want to share with you some of the major changes which [...]