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Freddie Mac and Fannie Mae

Barney Frank suggests abolishing Fannie, Freddie

Sun, 01/24/2010 - 11:55 by Ishita Sood

New York, January 24 -- It might be the end of America’s known mortgage houses Fannie Mae and Freddie Mac. Barney Frank, chairman of the House Financial Services Committee (House Banking Committee), said Friday that the two finance giants are likely be replaced with a new system for housing finance.

Mortgage rates fall: Fannie and Freddie

Fri, 11/06/2009 - 13:06 by Ishita Sood

Washington, November 6 -- According to a closely watched survey by U.S. mortgage finance company, Freddie Mac, mortgage rates fell below 5 percent for the first time in three weeks.

Jumbo loans have big problems

Thu, 07/16/2009 - 02:25 by Salinder Kumar

Washington -- A lack of jumbo loans for top-priced homes is putting downward price pressure on the general U.S. housing market, a national housing expert said.

Lawrence Yun, chief economist for the National Association of Realtors said the housing market needs "recovery in all segments," USA Today reported Wednesday.

"If the high-end market weakens, those in the middle have to reduce prices," Yun said.

In the prolonged financial crisis, banks have become more reluctant to lend. On top of that, a federal program designed to help homeowners does not include homes worth more than $730,000.