Theresa Springer’s Blog

Freddie Mac reports $475 million net loss

Freddie Mac reported a $475 million net loss for Q3  That net loss is actually based on a $4.2 billion gross loss on derivative investments. What’s a little weird about this is that the derivative investments were a hedge against interest rate fluctuations. But of course, interest rate fluctuations are in large part controlled by the ... MORE

Back to Bubble Mortgages?

Following on several days, and to a lesser extent months, of really good news, the big boys are making noise that may be immediately appealing to many borrowers, but may not be so hot for the market as a whole. Freddie Mac has hinted that more low-down-payment products could be on the way. Of course, low ... MORE

Fanny Mae And Freddie Mac Necessary Evils

Bethany McClean, a contributing editor at Vanity Fair, recently wrote an opinion piece for The Washington Post. Her contention is, that while “everyone” in Washington thinks that Fannie Mae and Freddie Mac need to go the way of the dinosaurs, the fact is we need them now (and possibly more than ever). It’s a fairly long piece, and ... MORE

Housing Market Gains Strength

Freddie Mac’s Primary Mortgage Market Survey shows that average mortgage rates have increased from the previous week due to housing permits and starts. The recently released data states that 30-year fixed-rate mortgage increased .05% from last week, averaging 4.47%. The 15-year fixed-rate mortgage jumped 0.6%, averaging 3.51% last week. The housing market continues gradually gaining ... MORE

Mortgage Rates Fall Slightly

Mortgage rates in the United States fell marginally last week, a sign that the housing market may be cooling down. According to Freddie Mac, the average 30-year fixed rate loan dropped 0.07% last week, averaging 4.50% while the average 15-year fixed rate mortgage fell 0.05%, averaging 3.54%. Mortgage rates were expected to decrease after hitting ... MORE

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