Monday, August 08, 2011

NOW - Standard and Poor's downgrades Fannie Mae and Freddie Mac - Aug. 8, 2011 .....

    Credit rating agency Standard and Poor's today (August 8, 2011) downgraded the debt of mortgage finance giants Fannie Mae and Freddie Mac. The downgrades to AA+ are part of the continued fallout from S&P's decision to drop U.S. debt to AA+ over the weekend. Since Treasury yields remain at very low levels, a sharp spike in mortgage rates seems unlikely now.

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