U.S. 30-, 15-year mortgage rates lower in latest week

(Reuters) - "Mortgage rates eased this week on market concerns that a
further weakening of housing demand this spring will delay any
recovery in the sector," said Frank Nothaft, Freddie Mac vice
president and chief economist, in a statement.




"Several factors contributed to the softening in housing
markets this spring. In addition to the tightening of lending
standards earlier this year, especially on subprime loans, the
40-basis-point jump in rates on 30-year fixed-rate mortgages in
June may have deterred potential buyers," Nothaft said.


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Freddie Mac mortgage portfolio up 1.2 pct in June

(Reuters) - The second-largest U.S. home funding company agreed to curb
its purchases of mortgage assets after an accounting scandal,
while it works toward returning to timely financial reporting.




Freddie Mac estimated that its retained portfolio, as
measured to conform with GAAP accounting, was about $703.3
billion last month. That was below the $724.5 billion limit set
by the regulator, the Office of Federal Housing Enterprise
Oversight.


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U.S. states to help subprime owners refinance - WSJ

(Reuters) - State officials hope this will be enough to keep some
vulnerable low and moderate income neighborhoods from sliding
into decline.




The Journal said some of the programs will be similar to
existing government-lending programs, in which the state
extends mortgages to homeowners and then sells those home
loans, in some cases to companies such as mortgage and finance
giants Fannie Mae and Freddie Mac .


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Syron, Chanos, Faber Say the Worst is Yet to Come for Mortgage-Backed Debt

(Bloomberg) -- The worst is yet to come for mortgage
bonds as more holders are forced to sell the securities in a
falling market, Freddie Mac Chief Executive Officer Richard Syron
and investors James Chanos and Marc Faber said.

``Unfortunately I don't think we have hit bottom,'' Syron,
whose company is the second-largest source of money for home
loans behind Fannie Mae, said in an interview yesterday from
McLean, Virginia. ``Things are going to get worse.''


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Freddie sees $9 bln-$17 bln reference notes in Q3

(Reuters) - Freddie Mac said it plans to sell reference notes in July,
August and September. It did not specify its targeted
maturities.




The agency also said it expects to issue at least one, but
not more than three, reference Real Estate Mortgage Investment
Conduit offerings in the third quarter, subject to
market conditions, including the availability of collateral and
investor interest.


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UPDATE 1-Freddie plans up to $17 bln reference notes in Q3

(Reuters) - With $10 billion of reference notes set to mature, Freddie
Mac said net reference debt outstanding will shrink by $1
billion if it issues the minimum amount of new notes planned.
It if it issues the maximum during the quarter, net reference
debt outstanding will increase by $7 billion.




In the current quarter, Freddie Mac has issued $12 billion
of reference notes and increased the reference debt outstanding
by $5 billion because $7 billion of notes matured.


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Freddie Mac sells $2.5 billion in bills

(Reuters) - The sale was part of Freddie Mac's weekly bill auction, on
Monmday Freddie Mac sold $1.5 billion in three-month bills due
Sept. 24, 2007, $1.0 billion in six-month bills due Dec. 24,
2007 and $1.0 billion in 12-month bills June 23, 2008.




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