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My website and blog have been recently redesigned. Check out www.SearchTheCedarValley.com for a great new look. Stop by for a great MLS search system for the Waterloo and Cedar Falls area and to see the latest real estate news on my blog.
Thanks,
Carl
Oakridge Realtors
Cedar Falls, Ia 50613
Licensed in Iowa
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12344 WELLMAN ROAD - For Sale By OwnerProperty Details:
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Description:4 Acres/Home Built in 2000 Spacious 2600 sq ft above, 1300 below, home with 3 BR, 3.25 Bath, Master BR with whirlpool tub and walk in closet, Kitchen has eat in bar, Vaulted ceiling in entry with sky light, Gas FP in LV, Laundry on main floor, French doors from dining room leads to back deck, oak trim throughout. 2 car attached garage, large outbuilding with loft for storage, workshop, plumbed for BR, ample parking, Perfect for horses, or other animals, gardening, and hunting. Vinyl siding, all electric, forced air, well water, septic sewer. Perfect for dual work location 22 miles to Waterloo, and 28 miles to Cedar Rapids. |
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Mortgages are in the news again today...but this time, the news is good! Especially for people looking to buy or refinance a home, as interest rates have dropped to the lowest levels seen since April.
You've probably heard that Fannie Mae and Freddie Mac were taken over or "bailed out" by the Federal Government over the weekend. The announcement came as the government felt that both of these institutions were potentially unable to meet their obligations. These agencies must pay off maturing Bonds every month, and they do so by selling new Bonds. But during the last twelve months, investor appetite to purchase new mortgage-backed security Bonds has deteriorated. As such, it has become more difficult for Fannie and Freddie to replenish capital to fund more loans. If both Fannie and Freddie became insolvent, the housing market as well as the mortgage market would come under further pressure.
With the Treasury stepping in to provide a "backstop" for the mortgage giants, investors now have confidence to purchase Mortgage Bonds. And the greater interest has helped lower interest rates today.
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