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The battered housing market in the United States has gotten some good news from Washington recently. On Tuesday of this week the Federal Reserve cut key interest rates down to 2.25%. This rate cut, and predicted further cuts in the future, may help Ame

(EMAILWIRE.COM, March 20, 2008 ) SAN FRANCISCO, Calif – The battered housing market in the United States has gotten some good news from Washington recently. On Tuesday of this week the Federal Reserve cut key interest rates down to 2.25%. This rate cut, and predicted further cuts in the future, may help American home buyers and sellers who want to buy or sell a house, but favorable results for mortgage borrowers are not expected overnight.

Following the rate cut, the Office of Federal Housing Enterprise Oversight (OFHEO) announced on Wednesday that it would ease capital requirements on Fannie Mae (FNM) and Freddie Mac (FRE). By cutting the so-called surplus capital requirement to 20% from 30% the government estimates that this will free up almost $200 billion US for the two companies to purchase more mortgage loans and package them into securities.

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Tags: housing market, Interest rate cuts, lenders

This entry was posted on Friday, March 21st, 2008 at 8:15 am and is filed under Mortgage Interest Rates, Mortgage Lender & Broker News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.