Fannie Mae-No Politics (FNMA)

[Robert from yahoo bd]

Fannie Mae and Freddie Mac make possible the 30 year prepayable at anytime Fixed Rate Mortgage to all 333,000,000 Americans, thus avoiding interest rate resets every 1 to 5 years on their homes as is the case throughout virtually every other country in the World.

What do hard working Americans and Retirees get in return for providing the private capital for Fannie Mae and Freddie Mac? 16 year plus Defacto Nationalized Corporations.

Here's what's happening to our neighbors in the north:

"Unlike in the United States, it’s difficult for homeowners to lock in their rates for long periods. Most either have mortgages where the rates are fixed for one to five years, or variable-rate mortgages that reset with every move in the central bank rate."

https://financialpost.com/real-estate/mortgages/homeowners-extend-amortization-banks-mortgage-data