Freddie Mac said its total portfolio of loans and guaranteed loans grew at an annualized rate of 13.2% in January.However, Freddie Mac's retained portfolio decreased at a 9.9% annualized rate in January, leaving the guaranteed portfolio to make up the growth. Retained portfolio purchases totaled $12.4 billion in January, down from $36.2 billion in December of 2005. Total guaranteed participation certificates increased at an annualized rate of 17.1%. Earlier this month, Freddie Mac president and COO Eugene McQuade predicted that a flat yield curve would create opportunities for Freddie Mac to increase its portfolio by making fixed-rate mortgages more popular than adjustable rate products with consumers and by making residential mortgages a less attractive asset for banks to hold. "While we have yet to see a sell off of fixed-rate mortgages from bank portfolios, even slightly reduced investment by banks should create better fixed-rate buying opportunities for us in 2006," Mr. McQuade said.
-
House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
July 3 -
A labor shortage is costing the market tens of thousands of new homes per year, and tariff uncertainty is adding thousands of dollars in expenses per unit.
July 3 -
The pace of revenue growth slowed toward the end of 2024, with the trend continuing into the first three months of this year, NAHB reported.
July 3 -
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
July 3 -
The 10 basis point decline in the 30-year fixed mortgage was the most since March and the first time rates are below 6.7% since April, Freddie Mac said.
July 3 -
The firm, now going by Fairway Home Mortgage, said the change is a representation of plans to create a "connected ecosystem."
July 3