On Monday, the average interest rate on a 30-year, fixed-rate mortgage fell to 4.33%, according to Bankrate.com, down from 4.47% last week.

But homeowners with adjustable-rate mortgages might look at refinancing at a fixed rate, because interest rates could rise when the economy recovers. Q: If the S&P downgrade isn't driving up interest rates, why did markets fall so far Monday?

Standard & Poor’s has cut the triple A credit rating of government-backed mortgage financiers Fannie Mae and Freddie Mac following a similar downgrade of the US government.
Housing Crisis of 2007

In 1938, Fannie Mae was created to support FHA and create yet more home ownership opportunities.
If Not Fannie & Freddie, then what?
What about competitive interest rates?