U.S. Mortgage Market!

The U.S. Government took over mortgage giants Fannie Mae and Freddie Mac Sunday to help save the economy. This takeover bid could end up costing you and I in the end. If this takeover goes south the taxpayers could be left paying $200 million. Most analysts out there are still not completely sold on the takeover. They think that this still isn’t enough to stabilize the housing market. They believe that there are just still to many vacant homes for sale. The only thing I can think of that will happen is that the 30 year mortgage rates will come down to make it more affordable for home buyers. Here’s what Treasury Secretary Henry Paulson was reported to have said, “taxpayers will get paid back first.” I sure hope so, because at the end of the day taxpayers can’t afford anymore debt. And the only way to pay that debt down is cut programs or raise taxes. Anyway, I truly believe this is a great move.

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This entry was posted on Monday, September 8th, 2008 at 8:55 am and is filed under Business, Economy, General Info, Investing, Just In, Stocks. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.