Fannie and Freddie just announced that they are going to stop their investor program.  They will still be in sfh and larger multi.  They did not outline a date and all the details.

The real impact is still unknown  There will be winners and losers.  

Winners:  

Credit unions and private lenders

Cash buyers 

losers:

Tenants

Small first time investors 

Every investor should be following this closely it is going to change the market. These loans are the cheapest and most difficult to get. It will push up the cost of money for a lot of investors. Non traditional lending may see this as an opportunity to cash in. The 800 lbs gorilla just left the ring. They no longer have any competition to keep the rates reasonable. Ending of this program will likely help cool the housing market. House hacking and BRRR will become more important. Buy and hold will be more expensive, but if prices drop it may be a net zero change.

Bottom line:  People still need a place a place to live who can not or do not want to own.  Collectively, we provide a valuable service to the economy.     

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