Cut Loose The Mortgage Giants
"As government-sponsored enterprises, both Fan and Fred have what amounts to a symbolic credit line of $2.25 billion with the US Treasury. That allows them to borrow at rates lower than competitors... In fact, the Fed study finds the support is worth between $119 billion and $164 billion. After taxes, homeowners receive $44 billion of that; Fan and Fred keep $72 billion. Further, the report finds that huge benefit lowered the cost of a home mortgage by only a minuscule 0.07 percent."
Thanks to Chris Steins