I think the news from Freddie Mac (FRE) today was pretty significant, although it received little attention.In the press release, Freddie said it will buy jumbo mortgages in high-cost regions from Wells Fargo (WFC), JPMorgan Chase (JPM), Citigroup (C) and Washington Mutual (WM). The government-sponsored enterprise expects to finance between $10 billion and $15 billion in new jumbo mortgages in 2008.The move is meant to increase liquidity in the housing markets, and today’s announcement marks the first large-scale effort[...]
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[Source: The Money Blogs]
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