Do you think 30-year mortgage market will survive without gov’t?
Could 30-year mortgage survive without gov’t?
- Fannie Mae and Freddie Mac, created by the government and spun off as shareholder-owned corporations, for years have been the foundation of the housing market and have backed the 30-year mortgage.
- Two of President Trump’s Cabinet picks, along with Republican lawmakers, have been speaking publicly about curbing government backing for the kind of loan that the majority of Americans rely on to buy a house: the 30-year fixed-rate mortgage.
- Current discussions Getting the private market to take on more mortgage credit risk is a goal of many Republicans, even if it comes with higher mortgage rates, lower homeownership or even the death of the 30-year mortgage.
- In 2005 and 2006, the private market took on well over half of mortgages without any sort of government backstop, according to the Urban Institute Housing Finance Policy Center.
- Ben Carson, Trump’s nominee to be secretary of the Department of Housing and Urban Development, told senators Thursday that the 30-year mortgage could survive without a government guarantee.
- During the housing boom in the 2000s, the private market was often willing to make mortgages on more generous terms than Fannie, Freddie or the FHA.
-
$800,000
Spanish Wells
Courtesy of Coldwell Banker Realty
3 BEDS3 BATHS2798 SQFTShare this Property -
$419,000
Beach And Tennis Club
Courtesy of William Raveis Real Estate
1 BEDS1 BATHS508 SQFTShare this Property -
$415,000
Lighthouse Bay At The Brooks
Courtesy of John R Wood Properties
3 BEDS2 BATHS1486 SQFTShare this Property -
$375,000
Vasari
Courtesy of Mato Realty, LLC
2 BEDS2 BATHS1632 SQFTShare this Property -
$3,995,000
Bonita Beach
Courtesy of John R Wood Properties
5 BEDS4 BATHS1671 SQFTShare this Property -
$920,000
Bn12 - East Of I-75 South Of Cit
Courtesy of Premiere Plus Realty Company
3 BEDS5 BATHS2540 SQFTShare this Property -
$439,000
Woods Edge
Courtesy of Dellatore Real Estate Company
3 BEDS2 BATHS1835 SQFTShare this Property -
$729,777
Bn12 - East Of I-75 South Of Cit
Courtesy of Keller Williams Elite Realty
2 BEDS3 BATHS2023 SQFTShare this Property -
$500,000
Bonita Springs
Courtesy of Safe Harbour Realty Inc
2 BEDS2 BATHS1534 SQFTShare this Property -
$659,900
Valencia Bonita
Courtesy of Keller Williams Realty Naples
2 BEDS2 BATHS1861 SQFTShare this Property -
$500,000
Villa Mar Bonita Beach
Courtesy of Compass Florida LLC
2 BEDS3 BATHS1498 SQFTShare this Property -
$895,000
Bonita Isles
Courtesy of Flat Fee MLS Realty
2 BEDS3 BATHS2080 SQFTShare this Property
Source: Florida Realtors