Fannie Mae doesn't expect the housing market to rebound until after 2008, according to an interview Chief Executive Daniel Mudd gave to Bloomberg News in which he offered a far bleaker assessement than the National Association of Realtors, which expects a rebound in the first quarter of next year.
"We don't think we hit a bottom until the end of '08 and then we have some period of time to work our way back up again,'' he told Bloomberg, adding that he expects U.S. home prices to fall 2 percent to 4 percent this year and even more next year.
Wow.
Does this give Ben Bernanke cover to cut interest rates a second time or even a third? Does this mean that the government is going to need to do more to help homeowners?
Stay tuned.
Warren Buffett, tells us more!
Oil has dropped $13, so gasoline should drop 30 cents, Americans hope
Wal-Mart's new Supermercado concept could be huge
Reader Comments (Page 1 of 1)
9-27-2007 @ 5:28PM
bob said...
lillian, here's the link:
http://about.countrywide.com/bios/BoardOfDir.aspx?ir=yes
9-27-2007 @ 11:18PM
LillianJDarensburg said...
Who is the CEO of Country Wide Mortgage with
mailing address?
Customer services refuses to give name and correct mailing address>\.
I was caught in a sub-prime loan with a pre-payment penalty of three years.
Thanks
9-28-2007 @ 8:23PM
LillianJDarensburg said...
I am most appreciative for your help. Thank you