La Mirada, California (Downey, CA)
By Carlos Arvizu, (R.V. Zoo)
(Carlos R. Arvizu Sr. with Prudential California Realy)
This morning, the Director of the Federal Government Sponsored Enterprise, Jame B. Lockhard, finally agreed to allow FannieMae and FreddieMac to set the Conforming Loan Limits higher than the current $417,000.  Unfortunately, it's taken 18 months of huges sacrafices for the real estate and mortgage industry to get to the brink of total disater.Why it takes so long for these people to make a decision is beyond me.  It's very frustrating for homeowners, who are trying to buy or refinance.  History teaches us valuable lessons, I not sure if politicians, short term economist, and the news media ever stop to rationalize the long term affects on their opinions, that affect our daily lives.Carlos Arvizu Sr.Prudential California RealtyTheMulhearn Group562-755-3856
Comments 1
By Carlos Arvizu, (R.V. Zoo)
(Carlos R. Arvizu Sr. with Prudential California Realy)
 How fragile is the real estate market in comparison to the rest of the world of economics, and what does it take to get us back on track to stabilility and eventually growth?To answer that, we must understand how all the componets work.The Federal Reserve System and the Secondary Market (FannieMae and FreddieMac)  which is operated under the Government Sponsored Enterprise (GSE), these two entities have a direct influence on our economy. The Federal Reserve Systems controls the money supply that influences banks who borrow from them and other banks, short term interest rates, such as adjustable rate mortgages, hybrid type loans.  They also affect consumer loans, home equity lines of credit, construction loans, cars loans, and also has a direct influence on the prime rate charged to the...
Comments 0
Downey, CA Real Estate Professionals