Another Announcement calmed fears in the financial markets. The Office of Federal Housing Enterprise Oversight, (Makes me wonder how do they come up with these names?) Just announced that they just lifted a capital restriction they kept Fannie Mae and Freddie Mac that kept them from buying to much mortgage bonds, or some other restriction I do not know exactly-what it was, that is now lifted thereby making available yet another 200 Billion dollars for the mortgage market.
In My yesterdays post I mentioned the feds are not responsible for making the mortgage market better but for the general economy in all market as a whole. The Announcement by the OFHEO is a measure that exclusively impacts the mortgage market, Just like the TSLF mentioned in my previous post.
Make it a great day!
Sincerely
Joel Silberstein
Joel
I noticed that a lot of foriegn investors have started buying everything in the US due to the weak dollar...
Rick
That is correct bu there are buying with lots of cash because there are not to many programs availble for them, isn't that right?
Thanks for your comment
Joel Silberstein