What would happen if Fannie Mae and Freddie Mac go under? If Fannie and Freddie were to fail, the real estate market would have a big problem on its hands. Cheap mortgage loans would probably dry and thus causing the real estate values to plummet. If you did want to get a home, the interest rate that you would pay would be a lot higher. Fannie Mae and Freddie Mac buy over half of all mortgage loans originated in the United States. If the government would not let Bear Stearns crash I can't see how they could let these two mortgage giants fail.
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