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SeekingAlpha.com (Free subscription) | 07/02/2009
Marc Chandler submits: Freddie Mac (FRE) reports that mortgage rates fell in the US in the past week. The average 30-year fixed rate mortgage fell 10 bp to 5.32%. Fed officials may find some comfort in this development, but it is unlikely to silence its critics. In some ways the Fed is damned if they do and damned if they don't. Some pundits have been critical of the Fed for buying any long-term assets....
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Market Watch (Free subscription) | 07/02/2009
Rates on the 30-year fixed-rate mortgage fell this week, averaging 5.32%, a quarter of a percentage point lower than they averaged at their mid-June peak, Freddie Mac reported on Thursday.
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Market Watch (Free subscription) | 07/02/2009
SAN FRANCISCO (MarketWatch) -- Freddie Mac said Thursday the 30-year fixed-rate mortgage average fell from the previous week to 5.32% with an average 0.7 point for the week ending July 2. In the previous period, the average was 5.42%, and the year-ago average was 6.35%. "Lower mortgage rates are helping to support the housing market. The 30-year fixed-rate mortgage rate peaked this year over...
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SeekingAlpha.com (Free subscription) | 07/02/2009
This headline from FHFA yesterday. The full report is here . This is incredibly flawed policy. The Government mortgage Agencies have created a window whereby borrowers can automatically get upside down on a loan. This is reckless lending and should not be permitted. This is much worse than any lending standard that existed in the go-go sub prime era. There is a mountain of evidence from academia,...
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SeekingAlpha.com (Free subscription) | 07/01/2009
Ockham Research submits: MFA Financial (MFA), formerly known as MFA Mortgage, is a REIT that invests in residential mortgage backed securities. If you are like me, when you hear that you think this stock must be in the dumps after the run horrible run in residential real estate over the last 2 years. However, in contrast to that reputation, MFA has raised its dividend payout by 14% over the last quarter,...
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Market Watch (Free subscription) | 07/01/2009
BOSTON (MarketWatch) -- The U.S. Department of Housing and Urban Development on Wednesday unveiled an expansion of the Home Affordable Refinance Program to include participation by borrowers who are current but up to 125% underwater on their mortgage. The previous maximum loan-to-value ratio for assistance had been 105%. Borrowers whose mortgages are currently owned or guaranteed by Fannie Mae and...
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PR News Wire (Free subscription) | 07/01/2009
Major Change Opens Door to Refinance Relief for More Borrowers in Hard Hit MarketsMCLEAN, Va. /PRNewswire/ -- To help borrowers who have seen significant home price declines refinance their existing loans, the Obama Administration today announced the availability of loan-to-value (LTV) ratios up to 125 percent for Home Affordable Refinance mortgages, including Freddie Mac's Relief Refinance Mortgage(SM)....
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Market Watch (Free subscription) | 07/01/2009
BOSTON (MarketWatch) -- Freddie Mac in a Securities and Exchange Commission filing Wednesday said the U.S. Treasury Department has provided $6.1 billion in immediately available funds to the company. Freddie Mac had disclosed in May that its liabilities exceeded its assets by $6.01 billion at March 31. The stock was up 3% in recent trading. Market Pulse Stories are Rapid-fire, short news bursts on...
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Market Watch (Free subscription) | 07/01/2009
SAN FRANCISCO (MarketWatch) -- Freddie Mac's board has made Charles "Ed" Haldeman its prime candidate for chief executive officer, according to a report published late Tuesday. The online edition of The Wall Street Journal, citing unnamed sources, reported that Haldeman's appointment as CEO of the government-backed mortgage company is subject to approval by the Federal Housing Finance Agency...
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Financial24 (Free subscription) | 06/26/2009
The following is being issued by Freddie Mac : May 2009 Highlights: The total mortgage portfolio decreased at an annualized rate of 1.6% in May . Refinance-loan purchase volume was $40.3 billion in May, down from $43.3 billion in April . The aggre ...
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Market Watch (Free subscription) | 06/25/2009
Mixed economic reports on the state of the housing market caused mortgage rates to move little or remain flat this week, Freddie Mac’s chief economist said on Thursday, following four weeks of volatile ups and downs.
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SCSUScholars (Free subscription) | 06/22/2009
Markets remain jittery ahead of Tuesday and Wednesday's Federal Open Market Committee meeting. Chairman Ben S. Bernanke has to convince investors the Federal Reserve can take back more than $1 trillion it pumped into the U.S. banking system to pull the economy out of the longest decline in more than six decades. ...“The markets don’t understand the Fed’s exit strategy; they’re...
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BloggingStocks (Free subscription) | 06/20/2009
Filed under: JPMorgan Chase (JPM) , Goldman Sachs Group (GS) , Federal Reserve , Financial Crisis Here is today's quiz. If you were given $1,000,000 to spend each day, how many days would it take you to spend $12.2 trillion dollars? You are probably wondering where the number $12.2 trillion came from? Well this is the amount of money the government has committed for economic recovery . Some of the...
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Market Watch (Free subscription) | 06/18/2009
After hitting their highs for the year following a three-week run-up, mortgage interest rates charged on popular mortgages ease nearly a quarter of a percentage point on the heels of good inflation news, Freddie Mac reports.
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Market Watch (Free subscription) | 06/18/2009
NEW YORK (MarketWatch) -- The national average interest rate on the benchmark 30-year, fixed-rate loan averaged 5.38% in the week ending Thursday, down from last week's 5.59% and the year-ago 6.42%, according to Freddie Mac's weekly survey. The 15-year fixed-rate loan averaged 4.89%, down from the week-ago 5.06% and the year-ago 6.02%. The five-year Treasury-indexed hybrid adjustable-rate mortgage...
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l8in | 09/24/2008
Fannie Mae and Freddie Mac taken over by the US Government. The two companies combined accounts total more than $4 trillion. They hold the mortgages of HALF the homes in the USA. And they collapsed. No damaging boardroom battles here, though. Nationalisation, and by a right wing American Government at that. The US Treasury said, "Fannie Mae and Freddie Mac are so large and interwoven in our financial...
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shugaray | 09/07/2008
Feds Seize Fannie Mae And Freddie Mac
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