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Financial Crises Have Slowed But Not Halted U.S. Economy

Sep. 16, 2008
Even as the meltdown of the housing and mortgage markets has deflated home values, touched off a rush of foreclosures, triggered a federal bailout of the mortgage giants Fannie Mae and Freddie Mac, and resulted in a massive restructuring on Wall Street, the larger economy has muddled on.
Related Stories from UPI.com

Mortgage rates drop again

WASHINGTON, Dec. 4 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages fell dramatically during the week, the Federal Home Loan Mortgage Corp. said Thursday.

Treasury may be considering mortgage help

WASHINGTON, Dec. 4 (UPI) -- The U.S. Treasury Department is considering direct intervention in the mortgage industry to drive down costs and lift the market, officials said.

Mortgage applications skyrocket in week

WASHINGTON, Dec. 3 (UPI) -- The volume of applications for U.S. mortgages jumped 112.1 percent last week, due to a big drop in interest rates, an industry group said.
U.S. mortgage rates mixed in week

U.S. mortgage rates mixed in week

WASHINGTON, Nov. 26 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages fell for the fourth straight week, the Federal Home Loan Mortgage Corp. said Wednesday.

Fannie and Freddie suspend foreclosures

WASHINGTON, Nov. 20 (UPI) -- Fannie Mae and Freddie Mac Thursday announced details of a plan to halt foreclosures and evictions from Thanksgiving until a week after New Year's.

Mortgage rates fall for 3rd straight week

WASHINGTON, Nov. 20 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages fell for the third consecutive week, the Federal Home Loan Mortgage Corp. said Thursday.

U.S. markets slide Friday

NEW YORK, Nov. 14 (UPI) -- U.S. markets slid sharply Friday on negative news from Sun Microsystems Inc. and the Federal Home Loan Mortgage Corp.

UPI NewsTrack Business

U.S. markets down slightly Friday morning ... China closes 67,000 factories this year ... Freddie Mac seeks $14 billion bailout ... FDIC has plan of its own for homeowners ... News from United Press International.
Freddie Mac seeks $14 billion bailout

Freddie Mac seeks $14 billion bailout

WASHINGTON, Nov. 14 (UPI) -- The Federal Home Loan Mortgage Co. said it had requested $14 billion in federal aid after posting third-quarter losses of $25.3 billion.

U.S. mortgage rates fall for second week

WASHINGTON, Nov. 13 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages declined slightly in the last week, the Federal Home Loan Mortgage Corp. said Thursday.

Tell-all application for Obama job seekers

NEW YORK, Nov. 13 (UPI) -- Those seeking Cabinet and other high-ranking posts in the Obama administration face what some call the most extensive application ever, observers say.

White House says bailout not for Big 3

WASHINGTON, Nov. 12 (UPI) -- U.S. President George Bush would consider more aid for automakers if Congress acts, but isn't inclined to use Wall Street bailout funds, a spokeswoman said.
Mortgage plan falls short, Bair says

Mortgage plan falls short, Bair says

WASHINGTON, Nov. 12 (UPI) -- Federal Deposit Insurance Corp. chairman Sheila Bair said the U.S. Treasury's mortgage modification program unveiled Tuesday does not go far enough.
Obama staff chief was Freddie Mac director

Obama staff chief was Freddie Mac director

WASHINGTON, Nov. 7 (UPI) -- President-elect Barack Obama's new chief of staff was a Freddie Mac director while scandal brewed at the mortgage agency, government reports say.

Mortgage rates drop slightly in week

WASHINGTON, Nov. 6 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages dropped slightly in the week ending Nov. 6, the Federal Home Loan Mortgage Corp. said Thursday.
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President Obama awards the Presidential Medal of Freedom in Washington
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President Barack Obama awards the the Presidential Medal of Freedom to singer/songwriter Bob Dylan during a ceremony in the East Room at the White House in Washington on May 29, 2012. The Medal of Freedom is our NationÕs highest civilian honor, presented to individuals who have made especially meritorious contributions to the security or national interests of the United States, to world peace, or to cultural or other significant public or private endeavors. UPI/Kevin Dietsch