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The interest rate on jumbo mortgages — those that exceed a government-set cap of $417,000 — has fallen below the rate for traditional loans. Mortgage industry observers say it's the first time this has happened.

The giant mortgage finance company's strong showing was driven by a rise in U.S. housing prices. Fannie's profit is nearly double what it was in the year-ago quarter.

Mortgage backer Freddie Mac says it has extended its streak of profitable quarters to seven in a row. The $5 billion in earnings is the second-highest in its history, the company said in its quarterly report Wednesday.

Risky bets by the mortgage giants Fannie Mae and Freddie Mac helped to trigger the financial crisis. After being bailed out by taxpayers and put under government conservatorship, there's new momentum in Washington to dismantle the mortgage giants.

Lawmakers are trying to figure out how to scale back the outsize role that mortgage giants Fannie Mae and Freddie Mac play in the housing market. A bipartisan Senate proposal would replace Fannie and Freddie with a scaled-down program, while a Republican House proposal would go even further.

The agreement resolves claims against the bank about mortgage-backed securities it sold before the housing bust. Many weren't worth what was promised. Also today, BofA and other banks are expectd to settle claims related to alleged foreclosure abuses.

A program that backed lots of mortgages during the housing bust may soon need taxpayer money to make good on its promises.

A federal Inspector General's report says there is no proof that Freddie Mac "obstructed homeowners' abilities to refinance their mortgages" to boost profits at the government-sponsored enterprise. Some of Freddie's investments rise when homeowners remain stuck in high-rate loans.

Four years after the U.S. launched a massive bailout of the financial system and the auto industry, the government has yet to recoup $200 billion. Here's a breakdown.

A federal regulator is blocking the government-owned mortgage giants Fannie Mae and Freddie Mac from reducing the principal that homeowners owe on their mortgages in order to avoid foreclosures.