After a slow start, the Obama administration's mortgage relief program has reached one in five eligible homeowners, a government report says.

Thousands of borrowers on the verge of foreclosure will soon have the option of renting their homes from Fannie Mae, under a policy announced Thursday.

The Federal Reserve pledged to keep a key interest rate at a record low for an "extended period," signaling that the weak economy remains dependent on government help to grow.

Newly empowered by the Supreme Court, the attorneys general of several states hit hard by the housing collapse are exploring consumer fraud suits against major mortgage lenders.

The 30-year fixed-rate mortgage edged up just slightly, averaging 5.03 percent for the week ending October 29, 2009, up from last week when it averaged 5.00 percent, according to Freddie Mac.

Home resales in September clocked the largest monthly increase in 26 years as buyers scrambled to complete their purchases before a tax credit for first-time owners expires.

One year after the government took over and bailed out Freddie Mac, the giant mortgage finance company, federal regulators are blocking former employees from revealing information to investors who are suing the company for fraud, reports the NYT.

For the past few months, the media has been watching the Dow Jones Industrial Average the way a hypochondriac checks his thermometer. And the higher the Dow's temperature goes, the more we need to sweat.

With a key Congressional committee  beginning markup of legislation creating a consumer financial products watchdog, the Federal Reserve's unusual role as a source of funds will likely draw attention.

The 30-year fixed-rate mortgage averaged 4.92 percent for the week ending October 15, 2009, up from last week when it averaged 4.87 percent, according to Freddie Mac. Last year at this time, the 30-year averaged 6.46 percent.

A year ago this weekend, the Dow Jones industrial average had just finished a slow-motion crash. Over eight days, it fell 2,400 points, or 22 percent, and stood at 8,451.

A year after Fannie Mae and Freddie Mac teetered, industry executives and Washington policy makers are worrying that another government mortgage giant could be the next housing domino.

Federal Reserve Chairman Ben Bernanke sent a fresh signal Thursday that he's in no rush to reverse course and start boosting interest rates.

The 30-year fixed-rate mortgage averaged 4.87 percent for the week ending October 8, 2009, down from last week when it averaged 4.94 percent, according to Freddie Mac.