Mixed news

The two major government backed lenders had very mixed reports at the
end of the first quarter. Freddie Mac says it turned a $676 Million dollar profit this quarter-
the first profits in 3.5 years.
Its probably best to take the Freddie Mac Profit as break even- that
is positive news.

But Fannie Mae lost $8.7 Billion dollars and is looking for additional
aid from the Federal government.
http://goo.gl/5h4Bh The cleanup of the bubble burst is still in process with additional
short sales and bank owned properties hitting the market.

Barry Bevis, Broker/Realtor

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s