CALABASAS, Calif. - (Business Wire) In light of the U.S. Department of Treasury
’s action to place government sponsored enterprises, Freddie Mac and Fannie Mae, into a conservatorship, Informa Research Services knows consumers will be asking,
“What does this mean for me?
” (
http://realestate.yahoo.com/loans)
Many experts have speculated that this decision could lead to lower rates on various mortgage products. Thus far, there has been no overwhelmingly significant change in rates overall. Over the past week, the average rate 30-year fixed rate mortgages offered by major financial institutions have dropped 22.6 basis points from 6.761% to 6.535% according to Informa Research Services. If rates continue to drop due to this takeover, this may create some excellent opportunities for homeowners and prospective buyers alike.
For homeowners who have been waiting to refinance their mortgage, this may be a good opportunity to take advantage of lower rates. To ensure you secure the best deal, be sure to shop for the best rates.
To qualify for the best rates, be sure to maintain excellent credit. To keep tabs on your credit, look into free credit monitoring tools, such as Credit Karma (www.creditkarma.com). Credit Karma allows users to securely check and monitor their credit score on a regular basis.
No one can say for sure exactly how the takeover of Fannie Mae and Freddie Mac will affect rates long term, but the best way to stay on top of rate trends is to check rates regularly. By using online rate comparison tables, checking rate trends is only a click away!
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About Informa Research Services, Inc. (www.informars.com)
Since 1983, Informa Research Services, Inc., has provided the financial industry’s most extensive array of market research and decision-support information.
Informa Research Services, Inc.
James Royal
Phone: 818-880-8877
Fax: 818-880-2069
