White House plans raise prices on government mortgages
WASHINGTON |
WASHINGTON (Reuters) - The White House budget proposal to be unveiled next week includes an increase in borrowing costs for loans backed by the Federal Housing Administration, industry sources said on Tuesday.
The move is part of a broader revamp of the U.S. housing finance system to reduce the role of the government in the mortgage market, including a gradual wind-down of government-controlled mortgage finance companies Fannie Mae and Freddie Mac.
(Reporting by Corbett B. Daly and Rachelle Younglai; Editing by James Dalgleish)
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Comments (3)
varela wrote:
huh…No comments about how President Obama is trying to let the left wing run wild by raising government mortgages probably because he is controlled by the corporations. Either way, he was Born in Hawaii so he doesn’t even deserve to be President… I can’t wait till 2010 Go Palin!
varela wrote:
That previous post was SARCASM! For those people out there who still believe that the world is flat.
gordo365 wrote:
Now shutting down and phasing out Fannie and Freddie is part of President Obama’s Kenyan socialist imperialist islamisist shadow agenda.
I thought republicans owned the shutting down fannie/freddie idea.
What a pickle for republicans. Will they actively block these efforts too?
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