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Lights out for aid keeping mortgage rates low

In an effort to revive the housing market, the Federal Reserve and the Treasury pledged to buy pools of U.S. home loans called mortgage-backed securities. The government also took over mortgage firms Fannie Mae and Freddie Mac. In doing this, they flooded the market with cash and allowed lenders to make home loans at cheap rates.


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Lifelines dry up for mortgage lending
Article | For more than a year, the government pulled out the stops to revive home buying by driving down mortgage rates.

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