Housing market is fixed

Discussion in 'Trading' started by Bowgett, Apr 17, 2008.

  1. Bowgett


    Freddie Mac To Buy $10B-$15B In Jumbo Mtgs In High-Cost Mkts

    Freddie Mac (FRE) agreed to purchase $10 billion to $15 billion of new conforming jumbo mortgages in 2008 from several financial companies. The McLean, Va., company said the financing is part of the Economic Stimulus Act, which temporarily raised its conforming loan limit to $729,750 from $417,000. The purchases are limited to 224 high-cost markets where median home prices exceed its original loan limit, the company said. Freddie Mac intends to buy jumbo mortgages from Wells Fargo & Co. (WFC) , JPMorganChase & Co. (JPM) , CitiMortgage (C) , and Washington Mutual Inc. (WM) . Freddie Mac shares were recently trading up 49 cents, or 2%, at $26.30