A new bipartisan effort, supported by President Obama, aims to reform home mortgage markets, effectively ending Fannie Mae and Freddie Mac as we know them. By reducing the role of government sponsored enterprises, the private sector will play a larger role in the mortgage business in the years to come. As the housing market continues to improve, and inventory is decreasing while prices rise, what does all of this mean for the average American home buyer?
Mortgage expert Bill White, VP of Real Estate Lending for the NASA Federal Credit Union, offers tips for navigating the housing market, including how to secure a mortgage and get a low interest rate.