The Real Deal Miami

The era of cheap financing may be winding down

January 07, 2013 02:15PM

Who says money’s cheap? According to Bloomberg News, the era of record low interest rates, which help nudge the housing market towards recovery and record home-lending profits, could be coming to an end. Last week, Fannie Mae-guaranteed 3 percent securities, used by lenders to price new loans, fell to their lowest level since September 12, the day before the Federal Reserve announced that it would buy $40 billion of mortgage debt each month. [more]