New Home Mortgage : New York, New Orleans, Arizona, Florida & Texas

Bailout of Fannie and Freddie might lower mortgage rates but it’s unlikely to lead to a quick turnaround for the troubled housing market.

The federal government’s takeover of Fannie Mae and Freddie Mac may save the battered real estate market from a complete meltdown. But financial experts say the bailout won’t lead to a housing recovery just yet. Instead, some on Wall Street said the housing sector is in as tough shape today as it was before Sunday’s rescue by the Treasury Department. Read the rest of this entry »