The Obama administration's proposals this morning to extricate the government from mortgage lending sounded the death knell for Freddie Mac and Fannie Mae. They weren't good news for homebuyers, either. In the proposals were changes that will mean more expensive mortgages, with higher fees and, probably, higher interest rates, larger down payments and, in the near term, fewer lenders to choose from.
Read more: Why You Should Buy that Home Now - SmartMoney.com http://www.smartmoney.com/personal-finance/real-estate/why-you-should-buy-that-home-now-1297456803897/#ixzz1EEuJt8EC
