Freddie CEO today on CNBC: “Housing is 1/3 of the way through downturn. Avg home Prices prices down 5% and total will be down 15%”
CNBC: “If you expect down market, why are you lending today?”
Freddie CEO: “Well, we don’t expect to do 100% loans.”
Fannie Mae CEO today : “We expect another 13-17% total downturn and we have seen down 3% last year. Prices should be down this year and next year.”
