About Government Refinance and Home Purchase Programs

Information and Updates on Government Mortgage Programs
Filed under Government Mortgage Financing Programs News

While the overall impact of the Fed stepping in to take over Fannie Mae and Freddie Mac is still to be determined, the short term impact has been that interest rates have dropped pretty significantly this week. FHA loans that used to be in the high 6’s are now in the low 6’s. People with great credit and equity can even get loan in the 5’s this week.

For most of the summer rates were hovering between 6.5% and 7% so this drop in rates is a welcome change and it is spurred by the Fed action this weekend

Comments (0) Posted by G.R.A. Admin on Tuesday, September 9th, 2008

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