Fannie Mae and Freddie Mac boost home purchases and construction by purchasing loans from conventional lenders and reselling them to private investors. FNMA indexes related to secondary mortgage market.
Current FNMA rate is cited in the rate box on the right. >>
The secondary mortgage market is responsible for the setting many of the rules and common practices that determines who gets a home loan. These institutions set the standards. They Lend Money to Your Lender Once your lender sells you home loan on the secondary market, it frees up the money to make another loan to another consumer looking to purchase their own property.
The secondary market includes Fannie Mae (Federal National Mortgage Association or FNMA), Freddie Mac (Federal Home Loan Corporation or FHLMC), Ginnie Mae (Government National Mortgage Association or GNMA) and a variety of other investment oriented institutions.
Are you curious as to what your mortgage rate and closing costs might be if you were to refinance or purchase a new home right now? You can run your numbers and get instant on-line estimates here: www.top-lenders.com. No contact information is required.