Plan mooted to wind down Fannie/Freddie

To get us back on the topic of housing :slight_smile:

Some conservatives are floating a plan to wind down Fannie / Freddie using the power that the president has:

How does Canada keep their low mortgage rate? Canada does not have a Fannie equivalent, but their ARM rate is much lower than us.

Does Canadian borrower have much better credit score in general?

Fannie and Freddie will be there, no one can get rid of it. Is it better to keep them as non-profit? I guess it’s great to work for Fannie and Fraddie, I hope they move to BA

I’m sure it’ll be spun as anti poor people and anti minority. That’ll go on a meme, and then it’ll become the facts.

They have been trying it for a longer time. It is fine to close fannie/freddie as government supported agencies.

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Its interesting that in Europe they have much lower ARM rates w/o Fannie or Freddie. We are talking 1-1.5% but rarely is it fixed for more than 2 or 3 years. It brings down monthly payments a lot. They don’t have 30 year fixed mortgages on the other hand.

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30 year is an american invention.

I feel bitter sweet with mortgage. While i like that i can buy something faster than i would have otherwise, but on the other hand, everyone else can, which drives the prices more.
Overall debt is a good thing to have as master @manch says, but some of that is a debt we don’t need :slight_smile:

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