Freddie Mac has reported mortgage rates of 5.08% for this week. Last week the rate was 4.99%, still below the 5% mark it has been for a few months now. The rate increase might be due to the economy gradually stabilizing as well as the federal government’s decision to no longer fund the mortgage market. […]
Tag: Freddie Mac
Update: Existing Home Sales
• Sales fall 7.2% last month for existing home sales, still considered higher than a year ago o January: 5.05 million units sold (4.53 million units, January, 2009) o December: 5.44 million units sold • 11.2% decrease in newly built home sales • Deals that closed in January were contracts that were signed in November […]
Fannie Mae and Freddie Mac
As long as the government is in control of Fannie Mae and Freddie Mac, they will not be able to introduce any new loan products. Fannie and Freddie were working on new loan products that would have to pass through the federal regulator of the company. On Tuesday the federal regulator had denied introduction of […]