Freddie Mac Chief Economist Frank Nothaft has remarked that the dip in 30-year fixed mortgage rates that happened in the fourth quarter brought down the cash-out share of new refinancings even though the total share of refis went up. He expects that as interest rates increase later there ...
The Federal Home Loan Mortgage Corp. (FHLMC), or Freddie Mac, plays a crucial role in the housing market by backing loans to borrowers. Freddie Mac does not lend to borrowers directly, but backs mortgages so that lenders will be encouraged to approve loans. However, you still must meet cer...