ron emmanuel was on freddie mac. -- rahm emmanuel was on freddie mac. we are talking about high-level people in washington. >> republicans and democrats. >> both sides of the aisle. >> did they make much money as members? >> yes. you talk about the secrecy. it is fascinating. can you imagine that this government-sponsored enterprise did not have to reveal what it paid its top executives? as you know, public companies have to disclose their property statements, the amounts that they pay their top five executives. fannie mae and freddie mac did not have to do that. when members of congress had the temerity to ask for this information, they were shut down. >> how? >> it was the power of these companies. they would marshal their friends on the helle and would be back any attempts to identify the riches that the top executives were making. >> i want to show you some video of jim johnson back and -- 1996. in speeches he was making and get your reaction to it. >> demographic changes like increased immigration and aging baby boomers have expanded the number of

the banks which are in turn hired by you know whoever owns the homeowner could be fannie mae or freddie mac. so you've got three or four layers that separate you know the landlord not the right word the the mortgage holder from the sub contractor who's out there performing these inspections so it's just not clear whether you know anyone's really paying attention. i will say that recently if the inspector general of the federal agency that oversees freddie and fannie has suggested that they're looking into this lack of oversight more broadly of contractors although they didn't specifically single out this type of incident so what can people do if it does does seem like there is little accountability the other than the statement that they released where is the accountability what can people do to fight this what are people doing to fight this. well you know that's again if you're forty five days late on your mortgage these property inspections start in the fannie and freddie rules and they sort of what freddie and fannie and freddie say sort of governs the mortgage industry as a whole they sa

according to freddie mac the average 30 year fixed rate was 3.94 percent this week down from more than 5% in january of 2009. the average savings for people who refinanced during that time was 2500-$3,000 per year. applications to refinance jumped to and some of those applications are from people who did not stand a chance of getting a refinance a few years ago. julie on an expanded program that is helping underwater homeowners refinance. >> they're not just a little bit under water, they're practically submerged. nine years ago they paid $337,000 and now >> the value now is about $229,000 >> because they owed significantly more than their home was worth, they could not get a refund. . now they're getting a break. last month under the government's recently expanded program they slashed their mortgage rate from 5.9%-3.9%. >> they are not reviewing the credit in the same way that we would for someone who was going through a traditional refinance >> he says there is all lot of differences between traditional refinancing and those done under the home affordable refinancing plan but the big

fannie mae and freddie mac had a big partner called countrywide financial.e know how bad that went. they were partners in generating these products. host: mark s. this point. he says the power of the consumer financial protection bureau is the scariest part of dodd-frank with a budget of up to 10% of the fed budget and no oversight. guest: he stated very well. that is the problem. it is money from the fed and it has no oversight. host: it -- is it 10% of the fed budget? >> it is several hundred -- guest: it is several hundred billion a year. yes. caller: mr. gray, is it true that if we did not do the tarp program the world economy was going to fail, and is it true that you are fighting the people -- you are representing the people against the dodd- frank economy -- legislation? guest: i did not think the whole world economy would fail without tarp, but dodd-frank is separate from that. we represent small banks, community banks, which is different than wall street. this bank and its colleagues are being disadvantaged to their bigger competitors who can handle

yet this isn't an isolated incident their party service contractors are hired by fannie mae and freddie mac. as well as big banks to make sure vacant homes are protected from vandalism instead because of lack of oversight sometimes these big contractors and break in occupied houses and conduct the vandalism specimen selves terrifying homeowners who have done nothing wrong so why is this happening to break it all down i'm joined by ben homan senior financial writer for the huffington post you know i found my report putting found dozens of cases where homeowners allege that contractors working for some of the biggest banks had broken into their houses ignoring what would seem to be obvious signs of occupancy lawns mowed. utilities turned on cars in the driveway that kind of thing very interesting in one case a woman come home came home to a clown drawn on her garage door with the words another job well done. you know when their job is to kind of prevent vandalism it does seem counterintuitive to kind of conduct these kind of vandal like acts on these people's houses. well i should say that fo

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the safety net -- >> can i just say, i think the alternative to big banks is not fannie mae and freddie macoint is that big banks have become like fannie and freddy. they are too big to fail, under written by the taxpayer, and which cheapens the cost to them because the debt holders and bondholders think they would be bailed out, right? so any capital control for leverage will be pushing powerful market incentives to wrinkle out of that rule because the too big to fail issue is making the debt cheaper and encouraging the leverage. >> i agree with that and we'll talk about it another time, but hear in washington, a lot of people want to keep fannie and freddie. >> my problem is the banks will be much less competitive, asian banks, and some european banks could dominate global finance. >> right, that's why banks have been able to get so big because when there is a question, they say to the regulators if you don't let us get big, deutsche bank will kill us. do you want to get so big and get all of that competitiveness if the cost is that the taxpayers have to come bail you out every few years.

fannie mae and freddie mac are bookselling those to fha at a reduced price when those houses could be listed and sold. >> that is a good point, i have not heard that before. i would urge you to talk to ed demarco about that than i did and he said we thought we would lose credibility. >> i am concerned by losing credibility by costing taxpayers money selling homes in a region that has no inventory and an abundance of buyers. when your in meetings, they should talk about that. >> thank you. >> the gentleman's time has expired. the gentleman from georgia is recognize from 5 minutes. >> thank you very much. welcome, mr. bernanke, good to have you. i want to talk about the core of our issue in dealing with unemployment. that is the serious paralysis of partisanship that is basically hijack to this congress. i say that because i think you all have done pretty much what you can do. in the fed, you have reached the point of what you call zero bound you cannot go any longer -- lower with interest rates. we talked about the policies we make. nowhere is the economy more impacted than health care

the former ceo of fannie mae, officials at freddie mac and a secretary of housing and urban development were also in this friends of angelo program. so were congressional staffers from both parties that played a role in legislation that affected countrywide. these vips got favorable mortgage rates and points. one was a chairman of the house oversight committee, the very same committee investigating countrywide. he also denies any wrongdoing. according to the house report, documents and testimony obtained by the committee show the vip loan program was a tool used by country wide to build good will with lawmakers and other individuals positioned to benefit the company. the report went on to say that the effort, well, it worked. there's a lot to talk b joining me is jason jaf it is, republican from utah. i think people would be surprised to hear that people got a deal. in your opinion did anyone here commit a crime? >> well, there was no quid pro quo. we could not tie anybody's vote directly to getting this benefit as the report points out but it skirts awfully close. you're given a benefi

and homeowners with fannie mae and freddie mac will have to look elsewhere for a break in mortgages. regulators say they will not allow troubled loan holders to take part in a white house program to reduce their balances, saying the program is too costly. treasury second, tim gietener is urging the major lenders to be preas a day of the major stock indices marking time before tomorrow's conclusion of the federal reserve meeting we mentioned earlier. with a waker consumer ending figures we rported unchanged most of the morning, and stayed in negative territory in the afternoon hitting the lowest levels of the session at the closingble. trading volume was higher. with consumer spending in focus. the consumer sector saw the biggest drop. and energy falling 1.1%, and defense was spared in the sell-off. tailer cch's disappointing earngs cas ahadow over consumers. coach the biggest loser in the consumer sectorment take a look at the results. the high end retailer earning a penny under the average of wall street estimates. sales in north america were much slower than aped. shares fell hard.

today, freddie mac says the average on the 30-year loan dropping to, get this, just 3.62%. >>> some florida lifeguards are walking off the job after a coworker was fired for saving a life. 21-year-old lopez admits he left his lifeguard seat when someone asked him to help a struggling swimmer. he knew the whole time he was in trouble. >> i was prepared for it. it wasn't too much of an upset because i had my morals intact over my job. >> the company lopez works for has a policy that lifeguards not leave their assigned areas due it liability issues. this morning the same company says it is re-evaluating that policy. >> has to be more to that story. the young kids said they would rather save a life without their job, so the big walkout is happening. >>> let's check in with christina loren following the great fourth of july fireworks celebration. >> bead. more great weather today. cooler than yesterday. i can only tell you next week is looking like a very hot week overall compared to where we have been in particular. starting with this live picture of san jose, just want to bring one more remind

freddie mac says the average rate on a 30-year fixed loan fell to the lowest since rates were first tracked in the 1950s. the 30-year has been below 4% since december. rates have dropped with the yield on the 10-year treasury bond. amid concerns about the global economy. federal drug store and supermarket chains are suing pfizer for allegedly confiring to delay sales after cheaper version of lipitor. it's the best selling drug of all time but pfizer lost its patent last year. the suit claims the company signed deals forcing retailers to buy more lipitor. pfizer, however, denies the claim. this is far from over. back to you. >> thank you, courtney. have a good friday. >> investigators in colorado working hard gathering up clues and now say they know where the deadly fire near colorado springs started. after going through more than 18,000 charred acres they located the point of ignition but at this point they have no idea what sparked that fire. the waldo canyon erupting almost two weeks ago, forcing nearly 35,000 people to evacuate. the colorado springs area, that was a mess. it destroyed mo

and talking about fannie mae and freddie mac. isn't it amazing, i watched this on your -- on cnn constantly. they kept saying the republicans wanted them to do something about it and all senator dodd, one of anglo's friends he said that would be too hard and frank didn't want it either because he's the one who pushed this. so here's the thing that got us into it and those two slimes wouldn't do anything about it. senator dodd got his daddy's job when hall young was there. he's been is you canning off the. the presidents don't get it. don't know how the economy works and these are the guys in charge just like nancy pelosi and harry reid screaming for romney's tax records show us yours. and she says that's a different thing. yeah she gets to be one of the first for ipos and all the other things. the senate and the government that we need to see their tax records. these are the people making these laws just like these laws in health care. their staffers end up putting what's going in them. when they pass they did not know what was g

for instance, the past three years, fannie mae and freddie mac have burnt over 80 billion dollars of taxpayer money so the home builders know the homes are going to be sold. the question, who fits the bill? many times private investors are going to come in and make profit by buying them on the cheap. cut the big subsidy and you'll cut the overinventory of homes. >> so, victoria, is a clean sweep what is necessary? i think that's what e-mac and mike are getting at. we need a clean sweep of the housing market and the inventory in order to get things moving again. >> well, i deally, yes, that would be the case, but we're not going to see it, you're going to see demand for homes in new areas where those old foreclosed homes don't exist. this is soft demand, like as morgan was saying, it's not some dramatic upswell of demand and it's healthy demand. yes, the government is still heavily involved in the mortgage market, but it's not the funny money we were seeing back in 2006 and 2007. so, i think that this is moderately good news. >> all right. you wanted to jump in quickly, e-mac. >> it w

fifth, the banking regulators fannie mae, freddie mac and fha should not escape appraisal subcommittee valuation safety and soundness review and enforcement. sixth, while automated valuation models serve as a useful and cost competitive compliance tool and check against fraud they should never replace use of an appraisal by a licensed appraiser for all mortgages that exceed $50,000. seventh, there is a need for more effective consumer protection, transparency and education including a dedicated consumer complaint hotline in collaboration with not for profit organizations. eighth, responsible appraisal practices ensure and expand housing opportunities in open society. it is unfortunate that that we still see issues of the age of housing, predominant value and use of comparables with the quality of housing and america's low income or housing communities. ninth, we are seeing widespread undervaluation through the use of broker price opinions and the short sale process or general reluctance to recognize that in some communities the market is beginning to return. and tenth, states must susp

i remember vividly in 2003 and 2004 people were worried about fannie mae and freddie mac. the fact and they work government -- guest guest: the sorry not sure what the question is. host: a test to jump on the statement if you wanted. guest: dodd-frank does not address freddie mae and -- fannie mae and freddie mac. prior to the prices they had a guarantee. everybody who bought stock thought it was continually go up. anybody who bought the debt assumed they would be made whole if they ever found trouble. there was no restrictions on fannie and freddie's activity. they had a lot of influence of in washington. at the time they were able to engage in whatever activities they wanted. at the end of the day, there is no exit inside. >> on the second anniversary, the boston globe notes that only 120 of the 398 regulations enumerated are in effect today. will it take another two years before we get to 398 or how long will it take for the loss to go into effect? guest: there are deadlines for a lot of roles but at the end of the day they compose the deadlines and move past them. given

appraisals are limited, we found that the sales comparison approach is required by fannie mae, freddie mac and fha and is reportedly used in nearly all appraisals. we also found that the cost approach in which an estimate of value uses data on land value and what it would cost to replace or reproduce a residence is often used in conjunction with the sales comparison approach. second, conflict of interest policies have changed appraiser selection processes and the appraisal industry more broadly. specifically, the policies have led to increased use of appraisal management companies. in our july 2011 report, we concluded that setting minimum standards that address key functions amcs perform on behalf of lenders would enhance oversight of appraisal services and provide greater assurance of the credibility and quality of the appraisals provided by amcs. therefore, we recommended that these regulators consider addressing several key areas, including criteria for selecting appraisers, as part of their joint rule making under the dodd-frank act to set minimum standards for states to apply and reg

buying up assets they bought up mortgage mortgage backed securities they bought up fannie mae and freddie mac. m b s's which are is real estate that they're buying and they bought a whole bunch of treasuries from the banks u.s. treasury bonds the treasury bonds are our national debt that's what we have to put a treasury bond is a promise from the u.s. government and whatever treasury it is around the world is a promise from that government to tax its population in the future so they're they're promising us that they're going to extract taxes from us in the future that's what deficit spending does they sell this bond the federal reserve acquires it and they buy that bond they write a check here's a trillion bucks and they buy those bonds that checking account they had has there is no account there's no balance there they're writing a fraudulent counterfeit check to buy this thing and then so then the banks have they do this through open marc. now the banks have that one point five trillion dollars they're talking about in their accounts at the federal reserve and then the federal reserve is go

the origins of th ewlviathan cle sc tets wr miowdieus ctof ubsite, i look and i said fanni ae, freddie mac? ean,here gert itns.eyfu h at? threnyseat eyfnds. radical and tackiness to our system. this is not a mocracy nmre ihhr t moy. i ing h oln. e'nyut obviously. though these foundationsxist under the tax code. the tax code awhy aretey geg mon cathremo t newlrewhe for, that is the definition. i mean, it is in so many words. e xode au a pocande.rn iw de ti ory id srt pocart that is partisan. that is not the general welfare. well come on. you are supporting yrepg ocalade,open ors. di. ths pic about. said the irs can this redefined with political and less hable kithabl e its it. eree ati oitr we into creating an ideology, multiculturalism and to just live in it. they put up money i mean for ogra hpnd spic curriculum, which is -- i mean come on to a crassly. i hate america currulum. they curriculutat says amica aeisrit anher way, and i think this is advisable, as descends at these fodati wn of remefun. h fn h board or when henry for the support, an rsolrt exist at. erve so be three big conserv

and 2008, members of congress, staff members, white house employees and workers at fannie mae and freddy mac. >>> the pool of candidates hoping to become yahoo's new ceo has come down to two men. they tagged the interim ceo and hulu ceo as the two finalists for the job. scott thompson was fired in may. >>> a warning tonight for thousands -- hundreds of thousands of computer users, why their computers go go dark. >> a special deal happening right now that makes taking one of these furry friends home even better. you don't exactly have that green thumb. but your siding? that's pro. finish like a pro with cabot wood stains. cabot...that's pro. >>> a japanese panel concluded that last year's fukushima melt down was a preventible man made disaster. they accused accused the government ofclusion and avoid -- of collusion and avoiding safety improvements that would have prevented the melt down. they released the findings in a report and that reports recommends a permit over sight committee to ensure they carry out measures to prevent another reaccurse. >>> the dns changer malware, a virus that hit c

freddy mac says the rate declined to 3.49%. that is the lowest since 1950. the average rate on a 15 year fixed mortgage dipped to 2.8%. >>> jc penney is changingilities pricing again -- changing its pricing again six months after they launched a pricing approach calling for lower every day prices, months long sales and periodic sales events. but they are bringing back the word clearance. >>> what do escalators and bath rooms have in common? the kov-- discovery workers made. >> we will take you inside to see how close this car came to a sleeping baby. avorite soup, salad and hot, hearty sub. like the toasty big hot pastrami melt. get to your local subway for some dinnertime deliciousness tonight. subway. eat fresh. >>> complete bay area news coverage continues right now, this is ktvu channel 2 news at 5 5:00. >>> broken escalators at the bart station are just the beginning of a problem at a busy bart station-they found human waste at civic center bart. ktvu's rob roth is live with why it is almost impossible for police to catch the offenders. rob? >> reporter

the refys would be done through the fha, fannie mae and freddie mac. recent weeks obama aids have been ramping up the push on-line and through social media. >> we need congress to act to put this plan into action for real. we talked about why we think refinancing is important we want to hear from you. we want to hear your stories. >> expect to see the president follow up a campaign event this month to put pressure on republicans to support the legislation. the white house and senate democrats are trying to work out a compromise for senate republicans to move the bill. democratic leaders are expected to bring them to a vote by the end of this month even if they can't get a deal. with no support for the measures in the republican controlled house critics see this as an election year ploy for votes in key battle ground states hard hit for the housing crisis. >> sounds like something that is -- changes their legislative goals. at the same time it is something that in a practical sense is going to have much impact before the election. >> the obama official

barney frank when he said he was not responsible for misleading the public about fannie mae and freddie machich is patently untrue. unfortunately that moment was not nominated by abc but it was memorable. was it not? you can check it out. check three the controversy over the u.s. olympic uniforms being made in china is not dying down. i am so upset that i think the olympic committee should be embarrassed out take all the uniforms and put them in a big pile and burn them and start over again. >> bill: i agree with senator reid especially the hat deal. what's up with the monica lewenski look anyway. american weight lifters are supposed to wear these hats? are you kidding me? basketball guys are going to dunk wearing those hats? check is ahauled. no matter where those hats were made it's appalling. check four, outrage in london as authorities pull the plug on paul mccartney and bruce springsteen. ♪ ♪ [cheers] [mike not working] [crowd boos] >> bill: what happened, he asked? well, they cut the mikes because the springsteen concert was held in hyde park where there is a 10:30 curfew on noise. so

if you have an fannie mae or freddy mac-backed loan, those up to 125% underwater, in other words the value of the home is 125% below your value, your debt, you can under the hart program you can refinance there. there are programs even if you are underwater on these loans. >> i am so glad you brought that up. harp, look it up on-line, even if you don't have perfect credit you may qualify. thanks so much. great to talk to you. >> have a great day. >> and if you want more and the ability to take charge on a number of consumer issues, go to fox news.com and click on america's news headquarters. at the bottom ofhe main page you will see our show. and then when you click on that, you will see the take charge consumer protection segment. this one is included. we hope we helped out. >> always great information. and those mortgage rates, wow. >>> a new battle may be shaping up on capitol hill. this time it is over the bush era tax cuts. coming up, what is at stake and how it can cost you. plus, new developments from the fox news voter fraud unit. the attorney general eric holder is taking on

. >> among the conditions, the loan must be owned by fannie mae or freddie mac and have originated before june 1, 2009 and you cannot have missed more than one mortgage payments in the last year. we'll have more information coming up later this week when we feature this program. if you have a consumer problem and give us a call or head to cbssf.com/consumer watch. >> crazy interest rates, lots of money to be had if you can get it >> you have to be careful about those fees. >> read the fine print. thankyou. >> and checking in with roberta, it cool off today? >> an unseasonably cool day, we will 10. neighborhoods for you, from the 50's at the beaches and 60s in san fransisco are not too far off the market. but the outside #, the obama's location was livermore at 75 degrees. still 12 degrees below normal. san jose checking in at 74 win typically we should be 84 degrees. this is the scene right now, a deck of low clouds. and the fog is even pushing and over the golden gate bridge. we are in the upper 50s in san fransisco, currently 65 degrees in santa rosa. this is the scene looking at mt. di

the report also says the former ceo of fannie mae, officials at freddie mac and a secretary of housingrban development were also in this friends of angelo program. so were congressional staffers from both parties that played a role in legislation that affected countrywide.

freddie mac says the average 30- year mortgage dropped to 3.56%. that's the lowest rate on record.he average 15-year mortgage dropped to 2.68%. >>> and americans may be losing their personal appetite for personal computers. pc sales dropped 11% in the last three months. market researchers say the decline is part of a consumer shift to less expensive tablets and smart phones. for more, check out the headlines at cbs money watch. com. in new york, i'm alice harmelin. >>> what sent a train off its tracks in ohio? the investigation begins. >>> the fighting, bullying on facebook. the social network rolls out new changes to keep users safe. >>> the sun is out today. but is rain on the way to wash out our weekend? find out if our first warping weather forecast. -- warning weather forecast. >>> wjz is always on. for more, click wjz.com. the first time i saw fios it was absolutely amazing. for years and years we had to put up with cable. once we got fios it was like somebody like took our computer and shook all the junk out of it. [ male announcer ] don't settle for the same old cable techn

freddie mac says mortgage rates dropped to 3.56% but bank rate.com says the highest one- year bank cd rate it found is just 1.1%. and the average money market is at 0.46%. if you're not saving money, maybe you're stockpiling credit card rewards points instead. chances are, though, you're not maximizing your card's potential. we check out what's in your wallet. >> reporter: what consumer doesn't love a bonus? that's one reason credit cards with loyalty rewards have become more popular. but brian kelly of the pointsguide.com says maximizing these programs takes more strategy than a swipe of the card at the grocery store or gas pump. no matter how great a signup bonus might look, he advises doing some homework first. >> it may be a little bit of annoying to do some research and see what credit card is the best for you and your spend but once you get a really tight strategy in place, you'll be amazed at how quickly these free flights, free hotels can really add up. >> reporter: some of his other tips? take advantage of airlines or credit cards online shopping portals to accumulate extra r

a new record, freddy mac telling us 3.56 on the 30-year fixed. incredible. >> thanks.reclosures seems like bad news, but dan says foreclosures clears out the market and it's a positive. but fred does not see that silver lining. dan, great to have you on the program, make the case. >> thank you. the idea is simple here. millions of americans are severely delinquent. they have to go through foreclosure. there's other options that are not very good. one is mortgage modifications. these tend to default. the other options for banks to slowly release these over a decade or something and create a stagnant market for that period. then it can rise and appreciate at a historical rate. >> fred, you disagree, there is a negative to rising foreclos e foreclosur foreclosures? >> yes, the people who are able to get mortgages have a harder time. now you have this foreclosure on the books at a certain area, and a fore cloeer is says this house is only worth $100,000 and you're trying to buy it for 250. there are solutions though. fannie and freddy have to take into account these foe cl

freddie mac? i mean, these are government institutions. they're funding the left? fug radicals, radical antagonists to our system. this is not democrat anymore. cry are i'ho -er a solution, many solutions, obviously, but all these foundations exist under the tax code. the tax code says why are they bee aprinhex exemption? raee. well, look, that's the definition. i mean, it's in so many words you promote -- the tax code says you cat do this if you're supporting a politic caidate. 'sthey de pti oro cid srt olalty that's partisan. that's not the general welfare. well, come on. you're supporting cap and trade, you're supporting open borders th w oolssingsoiz about. so the irs could just redefine what's politic and what's charitable. we know what's charitable, a hospital is charitable because it serves everybody. educatn is going to be t fondn' etion dollars went into creating an ideology, multiculturalism, and institutionalizing it. but, you know, they put up money for program topdi pamatmen a specific curriculum which is, i mean, i'll do it crassly, i hate america cur

. >>> freddie mac reports rates have reached new lows. 3.56% and 2.86% respectively.n. >>> isha, thanks. tonight's shot reminds us of the fierce determination of the individual athlete which sometimes translates into "screw the rules." one sprinter at the chinese university games had trouble. he just decided to plow through them instead of jumping over them. when he got to hurdle number seven, he tripped and fell into an opponent's lane. wait for that. boom. but like a true athlete, he got up, he finished the race anyway. london telegraph reports he came in sixth place, although he was most likely disqualified. >>> embarrassing resume blunders. a random bizarre picture of actor nicolas cage. to baseball! but it's not the same game! [ wife ] wow, he's really gonna get us a good deal. it's better! no it's not! the pitcher comes up and he's out! [ dealer ] he can bunt! whatever. but we're good with 0% apr for 60 months? oh, yeah, totally. thank you so much. that must've been brutal. [ male announcer ] the volkswagen autobahn for all event. at 0% apr for 60 months, no one

freddie mac reports that the rate for a 30-year fixed loan is 3.62%. >>> a florida lifeguard who wased for saving a drowning man has been offered his job back. tomas lopez was terminated because he saved the swimmer outside his coverage zone. he's not accepting receipt hire offer. vernlthsz i radios them and told them i'm goingtor a rescue, it's outside the zone. it's south of us. so i started going. my manager was telling me, don't go. you go back to your tower. i told him i'm not going back. i was running for a while. i still didn't see the guy and i kept running and i finally noticed him splashing around. by the time i got to the water, two other guests got to him and started dragging him in. i then was in the water already and dragged him under his arms and we carried him out of the water. >>> and mermaids don't exist? well, don't tell that to these gals swimming in a mermaid show at a georgia aquarium. sorry, ladies, the national oceanic and atmospheric administration says there's just no evidence mermaids ever existed. anderson. this is the plan that revolves around you. introd

mortgage rates fall been to a record low, freddie mac says the average rate on a 30 year fix.ave set or tied a record. the move mirrors a drop in the yield on the 10-year treasury note with banks typically use to set rates on mortgages. bond yields have declined amid a round of disappointing data including of course last friday's jobs report. guys, i'll send it back to you. >> thank you. a side note, it is a side note, san francisco's was sold for $500,000. it will continue. digg was one of the first social websites. at one point google expressed interest. a great bunch of guys but that's the way the digg story ends. >> thank you very much. >> 5:17. looks like the weather is changing from a bang to a cool-off. >> much cooler than yesterday. we still have closer to 100 degrees in the tri-valley. today we'll be luck fe we maybe see upper 80s out there. we've got a good strong onshore push of marine air. it's nice and comfortable. inland valleys, 50s across the board, novato down to 45 degrees right now. but notice these wind speeds. traveling across the bay area bridges, up in s