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Mnuchin Focused on “Fixing” Fannie and Freddie; Residential Sector Drags Down Construction Numbers; Rates Sideways at Best

Mnuchin Focused on “Fixing” Fannie and Freddie; Residential Sector Drags Down Construction Numbers; Rates Sideways at Best

Treasury Secretary Steven Mnuchin told Fox Business News on Monday, that changing the current status of Freddie Mac and Fannie Mae is something that he is "very focused on." In an interview with commentator Maria Bartiromo, the Secretary said he doubts anything will get done in this Congress, but he is determined to have a fix for the government sponsored enterprises (GSEs) and that " we don't leave them in conservatorship for the rest of time." Bartiromo asked what he meant by "a fix"? "Do you mean they will be publicly held again?" Mnuchin said he would not comment on what form the "fix" might take, "but having a government guarantee on a 30-year mortgage is important for liquidity in the market. " There are, he said various solutions and whatever is done will need to be done on a bi-partisan
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