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Latest Gov’t. Refinancing Push: “It Doesn’t Look Like They’ve Done Anything Big Here”

More Hot Air From the White House Is the White House finally getting serious about helping underwater homeowners refinance their mortgages? Not judging by the bond market. Yesterday, mortgage-backed securities issued by Fannie Mae and Freddie Mac jumped in price. Given how refinancing affects these bonds — borrowers who re-finance pay off their expensive loans, reducing investors’ return —...
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