Sub-prime slump hits Freddie Mac
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US mortgage lender Freddie Mac suffers a steep fall in second quarter profits, as record defaults on home loans take their toll.
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Government-sponsored lender Freddie Mac said Monday that it will restructure some of its mortgage securities operations, primarily by ceasing the market-making activities of its Securities
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Stocks plunged on Tuesday in their second-worst sell-off of the year as the impact of losses in the subprime mortgage group cascaded across the financial sector, knocking down shares of investment banks and traditional lenders.
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Much of the brokerage firmâs $7.9 billion write-down was tied to problems in the subprime mortgage market.
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Stocks slid on Tuesday as the subprime mortgage crisis escalated, undermining banking shares while Home Depot Inc.  and other housing-related companies lowered their outlooks.
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Mortgage lender's shares plummet more than 20% after Bank of England intervention.
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Freddie Mac said Thursday that 30-year mortgages have dropped to the lowest level since April 1, providing more of a boost to the housing industry.
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Interest rates on U.S. 30- and  15-year mortgages fell this week to their lowest levels since  early April as the housing market showed little sign of slowing  despite the Federal Reserve's move to raise interest rates,  mortgage finance company Freddie Mac said on Thursday.
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Markets fell on Friday as  losses stemming from subprime home loans  struck two prominent players in the financial industry.
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MCLEAN, Va. -- Mortgage rates have eased with help from last week&#39;s disappointing government numbers on new jobs. The mortgage company Freddie Mac reports that 30-year fixed-rate mortgages now average 5.74 percent, down from 5.82 in last week&#39;s survey.
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Freddie Mac FRE.N, the  second-largest U.S. home financing company which has endured a  barrage of intense public scrutiny in over the past year, on  Friday revised its 2003 net income down by $75 million to cover  a reserve for legal expenses, according to its annual report.
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Investors, frightened by the prospect of a new subprime mortgage crisis that could dwarf the write-downs of the last few months, sent markets lower.
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Mortgage rates edged lower as a weak employment report pointed to a softer economy, Freddie Mac reported Thursday.
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US long-term mortgage rates dropped this week to their lowest levels seen in six months, Freddie Mac reported Thursday in its weekly nationwide survey.
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U.S. stocks fell on Monday, sending the Nasdaq Composite index down more than 1 percent, amid rising concerns about the subprime mortgage lending market and the diminishing appetite for risk in the latest leg of the global equity sell-off.
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Rates on 30-year, fixed-rate mortgages in the United States averaged 5.72 percent this week, down slightly from 5.74 percent last week, Freddie Mac reported Wednesday.
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Freddie Mac , the No. 2 U.S. mortgage finance company, said on Monday it will no longer serve as a broker dealer in the multi-trillion-dollar mortgage bond market, a move some said is designed to lower risk and placate regulators.