Two of the largest key players in the housing market were announced on sunday that their financial woes will be solved by nationalizaton by the US Government. Fannie Mae (FNMA) and Freddia Mac (FHLMC) are to switched to public ownership from their current status as government sponsored enterprises.

The two companies are purchases of mortgages on the secondary market - a key part of ensuring that the housing market in the US maintains a certain level of liquidity. The two entities always ensured that standards in lending were achieved in the fairest way to all borrowers. The President of NAR stated that it is appreciated that steps are being taken to stabilize the market and give it the much needed shot in the arm.

US Banking shares lifted dramatically from the news which coupled with more people becoming familiar with the provisions for the new housing rescue bill there has been a hive of activity.

If you are considering purchasing a property in New Albany or the surrounding Columbus Metro are then please contact the Raines Group for professional Real Estate advice in the region.

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