Please don’t blame S&P for having the balls and spines to downgrade USA’s rating by a notch to AA+ from AAA but there may be darker side to the housing market: Fannie Mae and Freddie Mac will be probably downgraded too…*
In addition, S.& P. may now move to downgrade other entities backed by the government, including Fannie Mae and Freddie Mac, the government-controlled mortgage companies, raising rates on home mortgage loans for borrowers.
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