29 December 2009 ? On December 31, 2009 the US Treasury Department will stop purchasing mortgage backed securities. However, they will spend whatever it takes to keep Fannie Mae and Freddie Mac afloat. Fannie and Freddie have been given a blank check by the government. To date, American tax payer’s have spent over $111 billion to keep Fannie and Freddie open. On another note, the Fed will continue to purchase mortgage backed securities, capped at $1.25 trillion. This money is set to expire the end of March, 2010. If you have buyers on the fence, I would urge them to purchase before interest rates take a major hike next Spring.Email This Post To a Friend.
Fannie and Freddie Receive a Blank Check; Fed Will End Mortgage Backed Securities in March 2010
December 29, 2009
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