Wednesday, April 7, 2010 as of 11:14 AM ET
The Federal National Mortgage Association (FNMA; ), commonly known as Fannie Mae, was founded in 1938 during the Great Depression as part of the New Deal.
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Mortgage rates stayed near all-time lows this week, as the housing market showed signs of life and sent potential homebuyers a message: If you want to buy low, it doesn't get any better than this.
The benchmark 30-year fixed-rate mortgage was 3.97%, unchanged from last week, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.41 discount and origination points. One year ago, the mortgage index was 4.75%; four weeks ago, it was 4.09%.The benchmark 15-year fixed-rate mortgage fell to 3.19% from 3.2% the previous week, and the benchmark 5/1 adjustable-rate mortgage rose to 3.02% from 3%.Low mortgage rates are not the primary reason homebuyers decide to buy. But low rates make homeownership more affordable, and they certainly are helping many first-time homebuyers, says David Kuiper, a mortgage planner at First Place Bank in Holland, Mich."They are finally getting the message that rates are at all-time lows," Kuiper s...
FBN’s Liz MacDonald discusses the persecution of J.P. Morgan and the loopholes in financial legislation.
UBS AG (UBS) will go to trial in the fall of 2013 with the regulator for Fannie Mae (FNMA) and Freddie Mac (FMCC), the first of more than a dozen lawsuits the agency...
President Barack Obama talked about the $2 billion "hedging" loss at JPMorgan Chase on ABC's "The View" this morning.The president held up his silver sheriff's badge...
Federal Reserve Gov. Elizabeth Duke on Tuesday urged policymakers to finalize regulations and rules to provide more certainty for the housing market.Establishing reg...
FBN’s Gerri Willis on the unintended consequences of government regulations.
Freddie Mac, the No. 2 provider of U.S. mortgage money, o n T hursday named financial industry veteran Donald Layton as its next chief executive, putting him atop a ...
Donald Layton, the former chief executive of E*Trade Financial Corp., has been picked to head government-seized housing giant Freddie Mac, according to a statement f...
The U.S. dollar turned higher versus the euro on Thursday, pushing up an index of the greenback's performance against six major currencies for a ninth straight daily...
So long as the eurozone debt saga doesn't spiral out of control, some housing-market observers are growing increasingly confident the tepid rebound the industry is n...
The banking system has strengthened since the financial crisis, making some loans more available, but mortgage lending will likely be slow to recover, Federal Reserv...
FBN's Peter Barnes on Fannie Mae's improved profit.
Former Federal Reserve Chairman Paul Volcker on Wednesday - indicating he was frustrated with the slow pace of reform -- urged the Obama administration and Congress ...
Bank of America Corp.'s (BAC) agreement to repurchase $330 million in residential loans from Freddie Mac this month may signal new demands by the U.S.-controlled hou...
Sales of newly built homes in the U.S. grew faster than expected in April and home prices posted a solid gain the prior month, adding to the increasing momentum for ...
U.S. home prices rose in March and in the first quarter of the year, according to a government index released Wednesday, highlighting a trend of gradual stabilizatio...
U.S. home prices rose in March and in the first quarter of the year, according to a government index released Wednesday, highlighting a trend of gradual stabilizatio...
Home prices climbed 1.8% on a seasonally adjusted basis in March, the Federal Housing Finance Agency said Wednesday. Year-on-year, prices rose 2.7% in March. For the...
Stifel Nicolaus Portfolio Manager Chad Morganlander explains how regulation will impact bank stock prices.
When Jennifer Anderson's family could no longer afford their mortgage and lost their home, she expected many years to pass before they would again become property ow...
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