What Does the Takeover of Freddie Mac and Fannie Mae mean to Homebuyers?

The big news in the real estate market has been the takeover of Freddie Mac and Fannie Mae. These 2 mortgage giants buy mortgages from other investors. If it were not for these 2 organizations most of the investors, ie smaller mortgage lenders would not even exist. Most of the loans in the United States are sold to Freddie Mac and Fannie Mae. The Wall Street Journal wrote an excellent article on the takeover and what it means to the real estate market at the following link: http://online.wsj.com/article/SB122079276849707821.html?mod=fpa_mostpop
The most immediate outcome is that the mortgage rates ought to fall below 6% soon.

Photo: From the steps of my listing at Rivermoor Landing in Newmarket. This leads right out to the bay, saltwater access. This waterfront condo in the historic mill has been reduced to $155,000. Visit http://www.rominyrealestate.com/ for more photos