Government backed mortgage securities hit record high prices yesterday. As a result, yields dropped to record low points, causing mortgage rates to drop to the lowest levels on record. According to Freddie Mac, the average mortgage rate on a 30 year fixed rate mortgage fell to 4.69 percent yesterd…

There was an article in the Saturday New York Times by Binyamin Applebaum that detailed the ever increasing number of foreclosed properties that government sponsored entities (GESs) Fannie Mae and Freddie Mac have on their asset sheets. I recommend clicking through to the article, but here is one qu…

Over the past two years, much ink has been spilled about the problems at government sponsored entities (GSEs) Fannie Mae and Freddie Mac, which were seized by the government in 2008 in order to avoid insolvency. Since that time, taxpayers have poured more than $140 billion into the GSEs, and the Ob…