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  • Freddie Mac reports $354M net loss in first quarter

    Freddie Mac reported a $354 million net loss in the first quarter, significantly down from its $2.2 billion net income recorded in the fourth quarter of 2015. The news is a reminder of the GSE's net loss in the third quarter of 2015, which marked the first loss in four years. But despite the news, Freddie CEO Donald Layton remains positive on the results. Click the headline to find out why.

Fannie Mae survey shows more Americans consider renting

About 70% of Americans interviewed for Fannie Mae's July consumer survey said they are growing more pessimistic about the direction of the economy and they expect home prices to fall even further. Some 23% of respondents to the national poll believe the economy is moving in the right direction. "The impact of recent financial market volatility on household wealth has been a setback to consumer confidence, which we're seeing in our survey results and in Americans' continued restraint in their willingness to take on additional financial commitments," said Doug Duncan, vice president and chief economist of Fannie Mae. Only 11% of respondents said it's a good time to sell a home, while most of those surveyed expect home prices to decline from a year ago. More Americans plan to rent in the future, even though they anticipate rental prices to increase over the next 12 months. The number of Americans who said they will buy their next home went down 5 percentage points, while rentals are up 3 points. Personal finance also remains a sour spot with only 35% of respondents expecting finances to get better, down from 40% of respondents in April. Write to Kerri Panchuk.

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