Lake Tahoe Mortgage Rates and Lake Tahoe Home Loan Rates:
Capital Markets around the globe are falling today as investors rethink the longevity of the current stimulus program dubbed Quantitative Easing III. The program was put into place to spur on the economy and to promote job growth by lowering interest rates. The Federal Reserve has been lowering rates by purchasing $40 billion in Treasury securities and $45 billion in Mortgage Backed Securities each month.
Over in the job markets, the National Federation of Independent Business (NFIB) Index showed that optimism at small businesses grew for the second straight month in May by 2.3 points to 94.4. And while the index increased and is the second highest reading since the recession started, it is not signaling strong economic growth. The NFIB said that there are more businesses are being formed than lost, but many existing firms have not yet started to replace the workers that were cut during the recession.
The shareholders of Fannie Mae and Freddie Mac have filed a lawsuit against the U.S. government on the grounds that the placement of two government-sponsored enterprises, or GSEs, into conservatorship by the government was beneficial to the economic well being of the country, but just about wiped out any value of Fannie and Freddie’s common and preferred stock. The U.S. bailed out the two GSEs to the tune of a total of nearly $190 billion and suspended their dividends. At the end of 2012, Fannie and Freddie’s share price had plunged to 26 cents.