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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