Posted on: 09th Aug, 2011 12:05 am
Hi there…. A lot of ruckus has been going on due to the recent credit downgrade of the US and consequent downgrade on Fannie and Freddie. Well… Will it have any impact on home buying - lending standards, interest rates, etc? We are building our house now and want to know how it may affect us.
Hi Gabby,
It is true that US no longer enjoys the Triple A status as per Standard's and Poor rating. However, it does not necessarily means that your money is in danger as it has not been downgraded to the junk status.
As far as mortgage rates are concerned, the 10-year Treasury yield continues to fall. The adjustable rate mortgage holders are slightly vulnerable in this market. To know more about how the credit down grade will affect us, check out the given page: "http://finance.yahoo.com/news/SP-Rating-Your-money-in-a-hmoney-388856032.html?x=0".
Take care.
It is true that US no longer enjoys the Triple A status as per Standard's and Poor rating. However, it does not necessarily means that your money is in danger as it has not been downgraded to the junk status.
As far as mortgage rates are concerned, the 10-year Treasury yield continues to fall. The adjustable rate mortgage holders are slightly vulnerable in this market. To know more about how the credit down grade will affect us, check out the given page: "http://finance.yahoo.com/news/SP-Rating-Your-money-in-a-hmoney-388856032.html?x=0".
Take care.
Two words: "who knows"
