My Blog

With the historic event of the inauguration of Barack Obama and Joe Biden there is much speculation on how the new administration plans to strengthen the economy and how this change will impact the mortgage industry.

With the worse inauguration stock selloff in history, Barack Obama’s administration may need to initially work on jumpstarting the economy before turning their focus to the mortgage industry.

The general consensus in the mortgage industry regarding this new administration is that the government will try and keep mortgage rates low by offering more government programs since Fannie Mae and Freddie Mac are under the US Government’s control.

We are hopeful that with continued low interest rates and more mortgage programs likely to be made available the home values will begin to rise because of an increase in demand.

As President Obama addressed the nation and world on Tuesday, the challenges we face are real, serious and many. They may not be easily met or in a short time span.

With optimism we look forward to 2009 being a year of shift in the real estate industry, while protecting homeownership and cracking down on mortgage fraud.