ABOLISH FANNIE MAE AND FREDDIE MAC! There is NO reason for the government to subsidize homebuying! Of course, I am preaching to the choir.
I agree. I am in the mortgage business, and, yes I do some loans that Fannie and Freddie buy. However, without them, there are plenty of lenders that are funded by private investors (non-conforming loans) and they do not always have higher rates as is often assumed. In fact, if FNMA and FHLMC dropped out of the picture, the FREE MARKET would fill the void (and probably do better anyway).