Borrowers Still Refinance Fairly Often, But 2009 Crop Has New Characteristics
May 7, 2009
The surge in mortgage refinance activity in recent months has a unique flavor compared to similar refi waves, with fewer cash-out transactions and significant reductions in the mortgage payment, according to a new Freddie Mac survey. The government-sponsored enterprise said nearly half of the refi loans sold to Freddie during the first quarter of 2009 had a new mortgage rate that...
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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