Logical Eccentricity

I’m so happy today; I finally have a mortgage =) And I didn’t even need to go through all the trouble of applying for it, and everything else. With the government’s takeover of Fannie Mae and Freedie Mac, everyone now owns a small piece of all the mortgages owned by these two companies.

But the real i,pact on me is yet to be determined. How are mortgage rates going to react to this? I’m guessing that they are going to be a little crazy (increasing and decreasing all over the place for about a month) before heading noticibly downward after that. The takeover should result in greater stability in the mortgage market, hopefully increasing the amount of credit available and reducing rates. If rates do drop, it can only help me in my house hunting =)