The Treasury action is also a positive for the US housingmarket, Mark Zandi, chief economist and co-founder of Moody'sEconomy.com, told listeners in a conference call this morning.While the measures by themselves "are no silver bullet" for thegreater problems troubling the housing and capital market, theTreasury takeover will likely result in lower mortgage rates andincreased availability of mortgage credit. "A better capitalizedFannie and Freddie will be empowered to step up their provision ofcredit," he said.

The multifamily sector, for its part, is busily trying todetermine whether these same benefits will filter into their nicheof the commercial real estate market. For many that question isstill unclear, with several financiers declining to comment forthis article for that reason. Fannie Mae and Freddie Mac did notreturn a call in time for deadline.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.