Tuesday, September 9, 2008

Fannie Mae and Freddie Mac

I wanted to inform you that with the government taking over Fannie Mae and Freddie Mac yesterday, the market reacted well to the news and rates opened today at ridiculously low levels, with 15 Year Fixed rates starting at 4.875 and 20 year and 30 year in the low to mid-5’s respectively. This is about .5-.625 lower from Friday close. If you have any buyers ready to make an offer, then please share with them this news and please share my name with them as this rates may not be here for long. It is definitely a short term window of opportunity.

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