Real estate market heads toward recovery
Posted on Monday, August 13, 2012 at 9:24:04 PM
Financial leaders Fannie Mae and Freddie Mac reported seeing marked improvements in home values, which is increasing both organizations' bottom lines, The Washington Post reports. At the beginning of August, Fannie Mac posted second-quarter net income of $5.1 billion - up from $2.7 billion during the previous quarter.
Consequently, the mortgage company will not request additional money from the Treasury and declared that it would pay a $2.9 billion dividend to taxpayers.
"We've have had two very good quarters," Timothy J. Mayopoulos, who became Fannie Mae's chief executive in June, told the news source. "In the longer term, we're encouraged by what we see, but it's going to be driven by factors that are bigger than we are."
These and other market indicators are prompting more potential homeowners to consider residential financing options and homeownership. A Standard Fixed Rate Loan from Home Loan Investment Bank could improve the affordability of the purchase and make owning a home a strong possibility for many people in the near future.