The government has to wake up an realize the housing mess is not going away without some help! Financial stocks opened in some cases fifty percent lower than in previous close as fears that Fannie Mae and Freddie Mac would be forced into government receivership. The amount of panic within the market is staggering as the mood of the markets turn more dire daily. Oil prices have continued to climb, but this pales in comparison to the challenge the government will undertake if the two larges agency lenders in the country are no longer able to offer mortgage loans. The housing market has struggle for the past twelve months and desperately needs the agency lenders to continue any hopes of a rebound. Shares of Fannie Mae and Freddie Mac have lost over eighty percent of their value and the rapid free fall will make it almost impossible for either entity to raise more capital. It's time to pick up the phone and call your local government representative and demand some action be taken to help the housing markets. This situation needs to be addressed this month, and can no longer be put on hold.

7-11-2008 ©LowRateMortgage.com

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