the government with mentioned to fannie mae and freddie mac was saying we are going to buy up all of these securities, even though we, the gse, should have been smart enough to say this is garbage. these are mortgages with no documents, and we are putting taxpayer dollars at risk. in one sense, they were being told by the government what to do, go out and buy and increase your portfolio of mortgages in low income areas, but you can get one that is backstopped by the gse and the government. a senses were, in pushed into it, but i would agree with your point that the responsible as far as the mortgage lenders at the time. now is should be doing trying to come up with legislation that addresses the and elizabeth warren would agree -- that addresses that and elizabeth warren would agree. i'm saying the way the republican look. they -- they said donald trump is good. thought trump has bad judgment. -- [indiscernible] i'm disgusted with the democratic party. they said obama divided the country. they started billing him as a black president. a lot for the congressman to respond to. he said

. >> fannie mae, freddie mac, fha, va. they issue 90% of the mort gauges. if the president came to me and said what can we do to help housing? i would say ease up on the qualification standards. gary: we don't want to go back to where we were in 2008. >> it doesn't mean you will go back to where you were. you had bad mortgages. gary: we moved from here where anyone could get a liar loan. but we have gone so much in terms of restrictions and regulation that we have to move it off. >> qualification standard can be relaxed. one of the areas that will have to be dealt with is the first-time buyer. the first-time buyer used to be 40% of new home buyers. what's going on? how many much these young people have college debt. and the college debt comes in front of the mortgage debt. how are they going to deal with that issue? that's critical for a first homebuyer. gary: you are an independent director of black rock, great asset manager. you made a significant purchase of black rock common stock after the crash. what do you think about the stock market right now and t

freddie mac says the average 30-year fixed rate mortgage fell to 3.6% from 30.66 the week prayer. >>> rental and home buying prices are sky high. prices in many of the nation's largest markets are soaring, even outlying areas beyond the big urban areas are seeing higher rents. what's behind the increase and what does it mean for the housing market? the managing director at trulia research, david, good to have you back, we love having you on the show. >> good to see you. >> let's start first of all with why you think rates -- rental rates, as well as home prices, are moving in tandem at sharp rates to the upside. >> well, sue, our report looking at the top 25 rental markets in the country, this is the second time in the last year we've done this report. we knew prices were high. what we really found this time was that there are just not enough listings available. there aren't enough rentals available. there's this sharp, sharp drop in supply. and of course we have this tremendous amount of people looking to rent. and of course this was caused by a couple of things. first of all, people

freddie mac reports that the 30-year fixed-rate mortgage averaged 3.66% in the latest week, up slightly from 3.64% the prior week. >>> rising home prices are bringing house flippers back. it's not all about finding foreclosures to flip. there aren't many of those left anymore. this time it's a bigger gamble on better houses. and as diana olick reports, potentially bigger rewards. >> that kind of matches the windows. >> reporter: if you don't have cash and a strong stomach, you shouldn't be flipping houses. at least according to veteran house flipper dana wright. >> insulation. when did you guys do this? >> reporter: this is rice's fourth flip. mistakes just keep getting higher. >> you have to be ready to move quickly, you have to understand that it's going to be an all-cash deal and somebody could want it more than you so have your threshold ready so you're not making choices you're not happy with later. >> reporter: rice and her husband paid $680,000 cash for this bethesda, maryland, home in a pricey neighborhood. it was small, just over 1,000 square feet. she's doubling the size and g

speaking of those low mortgage rates, freddie mac reports the 30-year fixed rate mortgage is averaging 3.54%, down from the prior week and the lowest level since may of 2013. >>> so what does all of this global uncertainty around the world mean for the domestic economy and markets here at home? brian jacobson, chief portfolio strategist at wells fargo funds, joins us now. welcome, it's good to have you here again, >> thanks, sue. >> you know, it does seem as though the market has an awful lot on its plate. especially when you look at what's going on overseas. but what impact do you think, if any, all of this will have on the market and the u.s. economy? >> i think that it's a matter of your time frame here. if we're talking about what might it mean for the market over the next week or so, i think it's very significant. today is a good illustration of that. the market basically turned around when it looked as though there might be some sort of shift in the outcome for the brexit vote. the unfortunate killing of that member of parliament who was in support of remaining by somebody who wa

the government with mentioned to fannie mae and freddie mac was saying we are going to buy up all ofse securities, even though we, the gse, should have been smart enough to say this is garbage. these are mortgages with no documents, and we are putting taxpayer dollars at risk. in one sense, they were being told by the government what to do, go out and buy and increase your portfolio of mortgages in low income areas, but you can get one that is backstopped by the gse and the government. a senses were, in pushed into it, but i would agree with your point that the responsible as far as the mortgage lenders at the time. now is should be doing trying to come up with legislation that addresses the and elizabeth warren would agree -- that addresses that and elizabeth warren would agree. i'm saying the way the republican look. they -- they said donald trump is good. thought trump has bad judgment. -- [indiscernible] i'm disgusted with the democratic party. they said obama divided the country. they started billing him as a black president. a lot for the congressman to respond to. he said a co

bush's administration to become freddie mac's new chairman in the financial crisis.ccording to president bush's administrator, and this is a quote, "freddie mac needed some stronger management, so we selected him and he accepted the job, and we were thankful. "again, inspector general george came to the conclusion there was no evidence to support what we're claiming here today. i don't understand the basis for damaging this man's reputation. i really don't. and trying to take his pension. he has devoted a significant portion of his life to public service. i got to tell you, this is wrong. and politics is politics, but the querulous and petulant attitude towards public servants that sometimes prevails in today's politics, especially in this case, is again obnoxious. i wish we weren't doing this. i know about holding people responsible and accountable, but the evidence is not there to do this to mr. koskinen. it is not here. i know there are further hearings on this matter and i'm going to support the gentleman's amendment and i will oppose this. i think it has a chill

mortgage buyer, freddie mac says the average fixed rate has dropped 3.6% that's well below the average last year of 4 had not 04%. the average -- 4.0%. >>> watching a movie on your tablet while flying the friendly skies is getting easier. high speed service will be provided for netflix and amazon. viasat is being used on several other carriers. >>> they are a staple at many fairs, now you can buy deep fried twinkies that have dipped in funnel cake batter and flash fried, they are showing up in the frozenle aisle of walmart -- frozen aisle of walmart stores. ♪ one day a rider made a decision. the decision to ride on and save money. he decided to save money by switching his motorcycle insurance to geico. there's no shame in saving money. ride on, ride proud. geico motorcycle, great rates for great rides. camden wasn't an easy place to grow up. but teachers like mr. elliot saw something in me. made a connection with me. now i'm a teacher myself, right here in camden. i'm just passing it along to my own students and making those same connections my teachers made with me. now that's some be

. >> fannie mae, freddie mac, the fha, va, they issue 90% of the mort games in this country.f a president came to me and said what can we do to help housing, the answer would be ease up on the qualification standard. that's traditionally what they have done. charles: we are just one week away from britain's referendum on whether to stay in the eu. a woman in the british parliament was stabbed to death. ♪ approaching medicare eligibility? you may think you can put off checking out your medicare options until you're sixty-five, but now is a good time to get the ball rolling. keep in mind, medicare only covers about eighty percent of part b medical costs. the rest is up to you. that's where aarp medicare supplement insurance plans insured by unitedhealthcare insurance company come in. like all standardized medicare supplement insurance plans, they could help pay some of what medicare doesn't, saving you in out-of-pocket medical costs. you've learned that taking informed steps along the way really makes a difference later. that's what it means to go long™. call now and request th

mortgage buyer freddie mac says the 30-year mortgage slipped to 3.6%, well below its level a year ago. that was at 4.04%. the drop followed a surprisingly weak employment report. the government reported on friday that hiring in may slowed to a near standstill. >>> muhammad ali's funeral and muslim funeral prayer service will be open to the public. it's two days of events being held in his home town of louisville. >> nbc's bay area jay gray is live in louisville. good morning. >> reporter: hey, good morning, kris, scott. we're actually outside of the arena where tomorrow there will be a public memorial here. the end of tributes and memorials to muhammad ali here in his home town of louisville. earlier this morning, there was the traditional islamic funeral prayer that took place at the expo center. more than 16,000 of all faiths showing up to be a part of that good-bye to the champ. and he was very specific about what he wanted to happen after his passing, telling his family that he wanted not only the service this morning to be open to people of all faiths but that he wanted to make s

bush's administration to become freddie mac's new chairman in the midst of the financial crisis. those are difficult times. according to president bush's chief housing finance administrator -- and this is a quote -- "freddie mac needed some stronger management, so we selected him and he accepted the job, and we were thankful." both inspector general george and senator hatch have characterized him as cooperative. and again, inspector general george came out with the conclusion that there was no evidence to support what we're claiming here today. i don't understand the basis for damaging this man's reputation. i really don't. and trying to take his pension. he has devoted a significant portion of his life to public service. and i just -- i've got to tell you, this is wrong. this is wrong. and you know, politics is politics. but the quarrelous and petulant attitude towards public servants that sometimes prevails in today's politics, and especially in this case, is, again, obnoxious. and i just, i wish we weren't doing this. look, i know about holding people responsible and accountab

oversees fannie mae and freddie mac. the cost of construction of this facility has gone up.lf, the cost has gone up to north of $150 million. here are some of the problems. the ig report took particular aim at three -right-curly-bracket is on the property. totaling about $15 million. fannie mae saying we will bear the cost to construct that. all told it is going to, fannie mae is arguing that it will top $770 million over 15 years. fannie mae argued back. we are saving taxpayers $330 million over 13 years. here is where it gets real dicey. you will love this mr. payne. the agencies select the more expensive energy efficient elements such as leds instead of for rent that lights. mechanical shades up front while lower energy costs. it costs more money. >> a moneymaking machine. following the charlie gasparino shareholders. they will not release it. payback the bailout. such a hunting pot of cash. i do not even know why they are not writing a check for the whole thing it sells. >> arguing the cost of the bridges. >> this is not. why are the taxpayers, where does the revolt? [la

bush's administration to become freddie mac's new chairman in the financial crisis. according to president bush's administrator, and this is a needed somedie mac stronger management, so we selected him and he accepted the job, and we were thankful. " georgeinspector general came to the conclusion there was no evidence to support what we're claiming here today. i don't understand the basis for damaging this man's reputation. i really don't. and trying to take his pension. he has devoted a significant portion of his life to public service. i got to tell you, this is wrong. politics, buts the querulous and petulant servantstowards public that sometimes prevails in today's politics, especially in this case, is again obnoxious. i wish we weren't doing this. i know about holding people responsible and accountable, but the evidence is not there to do this to mr. koskinen. it is not here. i know there are further hearings on this matter and i'm going to support the gentleman's amendment and i will oppose this. effect it has a chilling on people willing to engage in public se

we see large banks selling fannie mae and freddie mac because there is a haircut.id: because they are too risky, ironically. david: from a liquidity test point of view. this whole notion of the size of a balance sheet is independent now of whether the interest rate goes up and down. people are not grasping that yet. david: and what is that doing to yields? david: it drives yields to a flatter yield curve. we see it all over the world. but it also suggests something else. maybe the central bank balance sheet is too small. maybe there is a need around the world for more dollars in reserves that we presently stash than we presently see. half reserves in the united states are there, through the u.s. subsidiary of foreign banks. why? look at the choices they are making. david: that is david kotok. thank you very much for being here, david. jon: coming up, the brexit follow. thursday posco is sure to have an impact on u.s. markets and global markets and beyond. the stronger pound and a global risk rally. ♪ you guy's be good. i'll see you later [ bark ] [ bark ] bye. see

the second housing market in particular liz: and we get the new freddie mac numbers coming out. half of the global bonds are 0.85% according to bank of america and merrill lynch. watch that safe haven and-- >> you can't get over-- >> i am. it's negative and can't get over it liz: who would have thought. stuart: time is up. it's 45 minutes past the hour, thank you very much indeed, art laffer, dr, larry levin in chicago. appreciate you being here. 43 points higher for the dow jones industrial average. we're about 300 points still shy of where we were right before that brexit vote last thursday. got that one. and now, lower sales at conagra, got a couple of individual stocks are moving. conagra, lower sales, they've got a whole raft of denver brands. peter pan peanut butter, healthy choice. nicole, what's with conagra. nicole: the problem, many of our viewers will understand one. everyone is looking for fresh, organic, natural. maybe once in a while we'll feel bad and get something out of a box, a bag or a can, but many of the conagra foods are in a box, a bag or a can and as a re

. >> yes, freddie mac, 3.66%.at ie previous year. still incredibly low.ago it was 7.87 -- 3.87%. stuart stuart what did you say it was? >> $3.66% on a 30-year mortgage. stuart: back in my day, first house i bought, san francisco, california, 12.5%. and i thought it was a bargain. >> what was that, 1979? >> that would be '77. >> oh, close. clarity, thank you. >> up to 16% in the early '80s. [laughter] stuart: i thought it was a gift from heaven. [laughter] >> i can deduct a third of it. stuart: hold on, i've got breaking news about hank greenberg, former aig chief. a court says he's got to face fraud charges. >> yes. new york's highest court. this case has been around since eliot spitzer brought it in 2005 -- 2006, middle of the last decade. basically, it's saying accounting fraud. basically, they're saying hank greenberg got bonuses that he should disgorge. back in 2005 aig did restate its profits, five years' worth of accounting problems fixed, and they basically cut their net profit by about 10% back then, but they're saying that's not enough. new york'

freddie mac is saying that 10-year treasury yields are in free fall as around the world they're goingfe haven. and watch and citing the chief economist there, the great britain's threat to leave the u.k. stuart: on the 10-year treasury we keep harking on, as that keeps going down, then the mortgage rate will go down. talking about the 30-year fixed rate, 3.5% liz: it's incredible. the mortgage applications have been trending down and they may trend down. ashley: maybe. banks aren't getting much back on their loans. stuart: that's, true. and why are the treasuries down when you've got a 3 1/2, 30-year fixed. extraordinary. back to breaking story at the top of the hour, a british member of parliament shot and stabbed on the street. ashley: more and more reports. contradictory. there is an eyewitness who says an argument broke out between two men with this member of parliament in yorkshire. there was a scuffle and the mp moved toward them to see what's going on. the man with the gunshot the mp accord to go this report twice. she was shot twice. it doesn't talk about stabbing. she's in cr

freddy gray case. the judge today acquitted the driver of the police van of all charges. fox news reporter, .mac always says he is the third officer to be tried in the case, and one of the six who were criminally charged for their involvement in graze arrest and transport and death last year. >> officer caesar goodson face the most feared serious charge of all six officers arrested, second-degree murder. he was the driver of the transport van carrying gray when he sustained a fatal injury to his neck. gray died a week later from an injury to his spinal cord. prosecutors say goodson was responsible for injuring great during a rough ride and failed to get them medical attention. the defense however are doing great caused his own injuries by thrashing around in the back of the van. >> when we start using a term like rough start using a term like rough ride we are talking about a deliberate attempt to injury passenger and i'm not sure you can derive that from one turn. >> goodson that , a 16 year veteran of the four selected for a bench trial leaving his fate in the hands of circuit judge instead of