Housing

Today’s Mortgage Market: Take a Picture and Frame It

The HUD/Treasury report to Congress, Reforming America’s Housing Finance Market, has sparked a debate about who should own a home (and all the equity — both financial and social involved […]

The HUD/Treasury report to Congress, Reforming America’s Housing Finance Market, has sparked a debate about who should own a home (and all the equity — both financial and social involved in limiting homeownership availability) and how explicit or implicit the government’s role in the housing market should be.

Nevertheless, the existing rules for homeownership will very likely change in the longterm as pointed out in this piece in the Los Angeles Times:

Take a snapshot of today’s mortgage market conditions and frame it. It’s highly likely you’ll never see anything like these favorable combinations of rates and terms again. That’s the inescapable conclusion emerging from the Obama administration’s white paper on possible remedies for the two ailing giants of housing finance — Fannie Mae and Freddie Mac — along with events underway in the national economy.

Source: Los Angeles Times

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