Wall Street wavers as Fannie Mae Freddie Mac fears grow
NEW YORK Wall Street closed a volatile week with stocks down as concerns over Fannie Mae and Freddie Mac intensified. The Dow fell 128 points to 11,100.54 after dipping below 11,000, while oil topped $147 a barrel and fears of a government rescue swirled amid credit crisis anxieties.
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New York
Wall’ Street
Fannie Mae
Freddie Mac
Wall Street
United
Fed
Central Bank
Fannie
Freddie
Federal Reserve
Jerry Webman
Oppenheimer Funds Inc
Rates could rise as Freddie and Fannie woes unfold
Mortgage rates may edge higher as turmoil hits Freddie Mac and Fannie Mae, government sponsored entities that buy loans to stabilize lending. Industry observers warn a confidence crisis could push lenders to demand higher costs, reducing affordable financing for home buyers.
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Chicago
Freddie Mac
Fannie " Mae
Fannié
Freddie
Fannie
Guy Cecala
Inside Mortgage Finance
Cecala
Government steps eyed in mortgage rescue debate rising rates feared
Analysts say mortgage rates may edge up as concerns over Fannie Mae and Freddie Mac grow. The Bush administration is weighing options including a possible government takeover, though Henry Paulson signaled no bailout plans. Officials aim to calm markets while potential intervention could use tax dollars.
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Freddie Mac
Fannie Mae
Christopher Dodd
D-Conn
Senate Banking Committee
Dodd
Fed
Ben Bernanke
Treasury
Henry Paulson
Fannie
Freddie
Bush Administration
Henby Paulson
Paul Anselmo
SigmaDocs
Feds
Trade deficit narrows as exports reach record highs
May trade gap falls to 59.8 billion as exports, including industrial and consumer goods, hit a record 157.6 billion. Dollar weakness boosts overseas demand while imports rise to 2173 billion, trimming a wider deficit economists had expected.
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Washington
U.S
Commerce Department
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