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Tough choices behind Obama's mortgage initiative

Tough choices behind Obama's mortgage initiative

COLLEGE PARK, Md., Aug. 9 (UPI) -- U.S. President Barack Obama wants private banks to use depositor and investor funds to write 30-year, fixed-rate mortgages at affordable rates. He won't admit those goals and others imposed by Congress require the federal government to guarantee mortgages and banks against failure.
PETER MORICI, UPI Outside View Commentator
Fannie Mae to pay back $10.2B to Treasury

Fannie Mae to pay back $10.2B to Treasury

WASHINGTON, Aug. 8 (UPI) -- Fannie Mae said Thursday it turned a $10.1 billion profit and would pay that plus $100 million to the U.S. Treasury, shrinking its housing crisis bailout debt.

Mortgage rates mixed in week

WASHINGTON, Aug. 8 (UPI) -- Average U.S. mortgage rates for long-term loans were little changed in the week ending Thursday, the Federal Home Loan Mortgage Corp. said.
Obama outlines new push for U.S. housing industry

Obama outlines new push for U.S. housing industry

PHOENIX, Aug. 6 (UPI) -- The housing industry was ready for another push although with precautions to keep unqualified buyers out of the market, President Obama said Tuesday in Arizona.

Obama to nominate John Koskinen as IRS commissioner

WASHINGTON, Aug. 1 (UPI) -- U.S. President Barack Obama will nominate John Koskinen to lead the embattled Internal Revenue Service, the White House said Thursday.

The almanac

UPI Almanac for Thursday, Aug. 1, 2013.
By United Press International
UBS to pay $885M to settle lawsuit with U.S. housing agency

UBS to pay $885M to settle lawsuit with U.S. housing agency

WASHINGTON, July 26 (UPI) -- Swiss bank UBS has agreed to pay $885 million to settle a lawsuit over mortgages sold to the U.S. government-sponsored Fannie Mae and Freddie Mac.

U.S. home prices up modestly in May

WASHINGTON, July 23 (UPI) -- A U.S. home price index rose 0.7 percent April to May, the Federal Housing Finance Agency said Tuesday.

The almanac

UPI Almanac for Saturday, July 13, 2013.
By United Press International

Jumbo loans bounce back

NEW YORK, July 12 (UPI) -- Those bigger than big U.S. home loans called jumbo loans are showing signs of a recovery, lending experts said.
U.S. mortgage interest rates push higher

U.S. mortgage interest rates push higher

WASHINGTON, July 11 (UPI) -- Average U.S. mortgage rates for long-term loans rose in the week ending Thursday, the Federal Home Loan Mortgage Corp. said.
Mortgage activity slows on climbing interest rates

Mortgage activity slows on climbing interest rates

WASHINGTON, July 3 (UPI) -- Mortgage activity declined sharply last week as interest rates hit a two-year peak, the Mortgage Bankers Association said Wednesday.
Report: Home prices find momentum in upswing

Report: Home prices find momentum in upswing

NEW YORK, June 25 (UPI) -- U.S. home prices headed higher in April, posting double-digit gains in a closely watched private report.

Mortgage rates trend higher

WASHINGTON, June 6 (UPI) -- Average U.S. mortgage rates for long-term loans rose for the fifth consecutive week in the week ended Thursday, the Federal Home Loan Mortgage Corp. said.

FHFA: Home prices indicate market stability

WASHINGTON, May 23 (UPI) -- A U.S. home price index rose 1.9 percent in the first quarter, the Federal Housing Finance Agency said Thursday.
Mortgage rates head higher

Mortgage rates head higher

WASHINGTON, May 16 (UPI) -- Average U.S. mortgage rates for long-term loans rose for the second consecutive week in the week ended Thursday, the Federal Home Loan Mortgage Corp. said.
U.S. budget deficit shrinks faster than expected

U.S. budget deficit shrinks faster than expected

WASHINGTON, May 14 (UPI) -- The U.S. budget deficit is shrinking faster than thought, falling to $642 billion from the $845 billion projected in February, number-crunchers said Tuesday.
Long-term mortgage rates turn higher

Long-term mortgage rates turn higher

WASHINGTON, May 9 (UPI) -- Average U.S. mortgage rates for long-term loans rose for the first time in six weeks in the week ended Thursday, the Federal Home Loan Mortgage Corp. said.
Markets rally remains aloft

Markets rally remains aloft

NEW YORK, May 8 (UPI) -- U.S. stock markets closed higher Wednesday, as records set on Wall Street continue to get broken and reset, lately on a daily basis.

Freddie Mac makes $4.6 billion profit in quarter

WASHINGTON, May 8 (UPI) -- Bailed out U.S. mortgage giant Freddie Mac said Wednesday it earned $4.6 billion in the first quarter of the year due to a recovery in the housing market.
U.S. mortgage rates head lower

U.S. mortgage rates head lower

WASHINGTON, May 2 (UPI) -- U.S. mortgage rates hovered close to or hit record lows in the latest week, the Federal Home Loan Mortgage Corp. said Thursday.

Mortgage rates at or close to record lows

WASHINGTON, April 25 (UPI) -- U.S. mortgage rates hit record lows or close to them in the latest week, the Federal Home Loan Mortgage Corp. said Thursday.
Home prices rose in February

Home prices rose in February

WASHINGTON, April 23 (UPI) -- A U.S. home price index rose 0.67 percent January to February, the Federal Housing Finance Agency said Tuesday.
Mortgage rates slide in week

Mortgage rates slide in week

WASHINGTON, April 18 (UPI) -- U.S. mortgage rates slipped for the third consecutive week, the Federal Home Loan Mortgage Corp. said Thursday.

Zandi cited as possible head of FHFA

WASHINGTON, April 15 (UPI) -- The White House has been testing the reaction in Washington to economist Mark Zandi running the Federal Housing Finance Agency, a policy analyst said.
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