Wall Street's oldest controversy is back on trend. Shares of US mortgage finance giants Fannie Mae and Freddie Midea surged on the US OTC market after a post by billionaire Bill Ackman sparked optimism that the two companies could leave the federal government's custody under Trump 2.0. Shares in Fannie and Freddie rose as much as 40 per cent, the highest since November. "What is particularly interesting about these two companies today is that there is a credible way to get them out of custody in...
Freddie Mac said in a statement Thursday that the average interest rate on a 30-year fixed-rate mortgage was 6.46 percent, down from 6.49 percent last week. Borrowing costs fell sharply after topping 7 percent earlier this year, boosting home buyers' purchasing power and prompting some would-be buyers to give up the wait-and-see. The National Association of Realtors (NAR) reported Thursday that sales of pre-owned homes in the U.S. rose in July for the first time in five months. While pre-owned i...