Feb 3rd 2012 11:50AM
WASHINGTON -- The average rate on the 30-year-fixed mortgage fell this week to a record low, the ninth time that has happened in the last year. But even with the cheapest rates in history, the housing market remains depressed. Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan dropped to 3.87... Continue Reading »
Jan 30th 2012 11:25AM
Freddie Mac, the taxpayer-owned mortgage giant, has placed multibillion-dollar bets that pay off if homeowners stay trapped in expensive mortgages with interest rates well above current rates. Freddie began increasing these bets dramatically in late 2010, the same time that the company was making it harder for homeowners... Continue Reading »
Jan 11th 2012 1:00AM
WASHINGTON -- The executive who was appointed to lead mortgage giant Fannie Mae in 2009 after the federal government seized the company plans to step down as its CEO. Michael J. Williams announced Tuesday that he will continue as CEO and as a director until a successor is found. "I decided the time is right to turn... Continue Reading »
Jan 6th 2012 4:22PM
Mortgage finance firm Freddie Mac just announced that it will give unemployed borrowers a break on their mortgage for up to one year. "These expanded forbearance periods will provide families facing prolonged periods of unemployment with a greater measure of security by giving them more time to find new employment and... Continue Reading »
Dec 21st 2011 10:00AM
SAN FRANCISCO -- California's attorney general filed lawsuits against mortgage giants Fannie Mae and Freddie Mac on Tuesday, demanding that the companies that own some 60 percent of the state's mortgages respond to questions in a state investigation. Attorney General Kamala Harris, whose office filed the lawsuits in San... Continue Reading »
