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Fannie Mae Mortgage Rates

Fannie Mae mortgage rates are usually determined by pricing the yields of mortgage backed securities owned by the corporation. Fannie Mae or Federal National Mortgage Association was established in 1938 to create a secondary market for mortgages that are insured by Federal Housing Administration. It buys mortgage packages from banks and primary lenders then packaged them into mortgage-backed securities to resell them to potential investors. Fannie Mae together with Freddie Mac plays the most important role in the proper functioning of the US mortgage market.

Current Fannie Mae Mortgage Rates

Fannie Mae mortgage rates at present are quite competitive and it can be considered as a good time to purchase mortgage products. Recent reports show that 30 year mortgage rates are available at an affordable rate of 4.2% while 20 year loan can be availed at 4.3%. Moreover, 15 year Fannie Mae rate has fallen down to 4.4% and 5/1 ARM are available at 3.6%. The buying and selling trends of mortgage backed securities determine how secondary pricing departments price the current daily mortgage rates. Fannie Mae mortgage rate history shows that the mortgage corporation has always offered the best rates in the market when compare to other banks and lending partners.

Fannie Mae Mortgage Modification

If you are finding it hard to make your mortgage repayments or if you are unable to take the advantage of the lowering interest rates due to dropping of your home value then you may probably qualify for Home Affordable Modification Program. This Fannie Mae mortgage modification program is specially designed to help those responsible homeowners who faces certain financial troubles in making their mortgage payments. This loan modification program is also intended to strengthen the condition of the prevailing housing market.

The interest rates of Fannie Mae mortgages are meant to serve low and moderate income families who are dreaming to finance a home. The mortgage corporation also helps the homeowners and borrowers in two different ways. Firstly, it helps to maintain low mortgage costs by funding mortgages that are readily available. On the other hand, if you are a teacher, firefighter, police officer or a health care worker, Fannie Mae can provide you a mortgage program that you couldn't otherwise afford.
Trulia is an online information provider committed in offering the best of details on home mortgage and its prevailing rates in the US market. Check the website of the company to find the current Fannie Mae rates.

Fannie Mae
To know how Fannie Mae's activities play an important role in determining your mortgage rate, visit the official website of the company.


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