Michael Williams, the chief executive of US mortgage giant Fannie Mae, will step down once a successor has been found, the company says.
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BING NEWS:
- Mortgage rates rise on weak economic news
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
04/25/2024 - 6:17 am | View Link - Potential buyers stay home during latest rate surge
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
04/24/2024 - 12:00 am | View Link - Stubborn inflation to keep rates ‘higher for longer’: Fannie Mae
Economists have marked down their estimates for the number of quarter-point cuts to the federal funds rate from as many as six to one or two.
04/23/2024 - 10:16 am | View Link - US existing home sales drop in March; median price increases
U.S. existing home sales fell in March as higher interest rates and house prices sidelined buyers from the market.
04/18/2024 - 7:07 am | View Link - Freddie Mac wants a new role financing homeowners sitting on equity. One banking group isn’t happy.
The housing giant could make a $850 billion splash in the market for second-lien mortgages under a new proposal.
04/17/2024 - 10:30 am | View Link - More
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