Fannie/Freddie - What does it mean?
I'm sure you heard that the government "took over" Fannie Mae and Freddie Mac yesterday. What does that mean? Well, it means a lot of things (mostly good so far), but IMMEDIATELY, it means:
A SMALL WINDOW OF LOWER INTEREST RATES FOR YOU AND YOUR CLIENTS.
The market reacts on news and this news gave interest rates a shot in the arm this morning, but I already see signs of settling, which is why I think this is a 24 hour window.
A 30 year fixed PAR rate is 5.625%, and 15 year is 5.375% at this moment. If you want to reduce your payment or your time to payoff, and you did not refinance in January / February, let me know about your specific situation and I will shoot you back the numbers. Of course, we live in a "full doc" world now -- keep that in mind.
Have a Great Day!
Chris Tabscott, President
Titan Home Loans
214 2nd Ave. N, STE 206
Nashville, TN 37201
chris@titanhomeloans.net