How Buying A Home Is Likely to Change

An interesting article by Rick Newman of US News and World Report.   http://yhoo.it/fkxIip

The article projects the changes to home financing we all will see once the government either winds down or greatly reduces the role of Fannie Mae and Freddie Mac in backing home mortgages.  Though Rick's predictions do project a slight change from our current system, and a major shift from the loose policies of the mid-2000s, it should be noted that what he envisions is a system very close to the current mortage lending environment in most other countries-- less government backing, modestly higher interest rates, shorter fixed rate periods.