Participation certificate
Participation certificate
Participation certificate is a share of lease revenues generated from an agreement made by a municipality. The municipality pursues this arrangement in lieu of offering a bond issue that's supported by lease revenues, usually to avoid restrictions on debt levels. Freddie Mac, Fannie Mae, Ginnie Mae, and Sallie Mae issue and guarantee participation certificates.
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National Rates
| Loan Type | Today |
|---|---|
| 30 yr fixed | 4.83 |
| 15 yr fixed | 4.39 |
| 5/1 ARM | 3.69 |
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