Home prices dropped 0.3 percent nationwide between December and January on a seasonally adjusted basis, according to the Federal Housing Finance Agency’s monthly House Price Index released today. U.S. housing prices have declined 3.9 percent on the index year-over-year and have dropped 16.5 percent from the market’s peak in April 2007. The index, which relies on the sales price of homes backing Fannie Mae and Freddie Mac mortgages, shows prices dropped to May 2004 levels in January. TRD
Posts Tagged ‘mortgage-backed securities’
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The Federal Housing Finance Agency has sent a total of 64 subpoenas to
issuers of mortgage-backed securities, according to CNBC’s Diana Olick.
The move could hold several such issuers’ feet to the fire, if they are
found to have misrepresented the securities they marketed. The probe
also has the potential to enhance accountability in the mortgage
securities crisis. -
The Federal Housing Finance Agency has sent a total of 64 subpoenas to issuers of mortgage-backed securities, according to CNBC’s Diana Olick. The move could hold several such issuers’ feet to the fire, if they are found to have misrepresented the securities they marketed. The probe also has the potential to enhance accountability in the mortgage securities crisis.
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CNBC’s Steve Liesman discusses the recent increase in interest rates and its impact on home sales. Federal officials say the administration’s plan to purchase mortgage-backed securities is intended to shore up the credit markets. Mark Zandi, chief economist of Moody’s Economy.com, said rising mortgage rates are hurting the refinancing market and home sales. But the federal measures may not be enough to impact the market, opponents say. [more]
