president bush: Act NOw!!! InTeResT rAtES arE GOinG uP ThIS SuMMer - 01/10/09 06:29 AM
By Julie Haviv
     NEW YORK, Jan 8 (Reuters) - Massive efforts by the Federal Reserve to bring down mortgage rates have so far been a success, but homeowners had better act fast because analysts say record low rates could be gone as soon as this summer.
    Thirty-year mortgage rates dropped to a low of 5.01 percent this week -- their lowest since 1971 -- after the Federal Reserve unveiled a plan in late November to buy as much as $500 billion of securities backed by Fannie Mae , Freddie Mac and Ginnie Mae.
    They could touch as … (1 comments)

president bush: To Tell You The TRUTH... - 08/01/08 07:10 AM
President Bush on Wednesday signed into law a sweeping housing bill that aims to boost the struggling housing market and bolster mortgage finance giants Fannie Mae and Freddie Mac. The Senate voted 72-13 in favor of the bill on Saturday, after the House passed it three days earlier.
The cost of the program - which would begin on Oct. 1 and be in place for just a few years - will be funded by fees from Fannie and Freddie, along with fees paid by both lenders and borrowers  
The law authorizes FHA to insure up to 300 billion in loans. … (3 comments)

 

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