Real Estate Blog

January 8th, 2009 3:07 PM
The Federal Reserve earlier this week began purchasing $500 billion of mortgage securities backed by Fannie Mae, Freddie Mac, and Ginnie Mae.
The move, to bolster the crippled residential property market, has resulted in some of the nation's biggest banks--including JPMorgan Chase & Co. and Wells Fargo & Co.--to offer fixed home loans under 5 percent. Analysts expect the lower rates to prompt more borrowers to refinance.
Posted by Fred Hintenberger on January 8th, 2009 3:07 PMPost a Comment (0)
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