Judge it!
Not too surprising by the fact that the housing market continues to collapse. According to housing economists, this trend is going to further for about a year or so. Hopefully, next summer, the market will turn around.
Has the bottom hit? Not yet...
www.ventureblogster.com
McLean, VA
May 14, 2008
Freddie Mac loses $151M in 1Q as home loans falter
Mortgage finance company Freddie Mac's first quarter loss widened to $151 million as the U.S. housing market worsened, though the results were not as poor as expected.
McLean-Va.-based Freddie Mac also said Wednesday it plans to raise $5.5 billion in new capital. Shares of Freddie Mac, the second-largest buyer and backer of home loans, rose more than 6 percent in premarket trading.
The quarterly loss at Freddie Mac was larger than a loss of $133 million in the January-through-March period last year. The results were equivalent to a loss of 66 cents a share, compared with 35 cents a share a year earlier. Read more
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