Paulson: Fannie, Freddie to buy more mortgages

WASHINGTON(AP) -- Treasury Secretary Henry Paulson says mortgage giants Fannie Mae and Freddie Mac will step up their purchases of mortgage-backed securities to help provide support to the crippled housing market.

Paulson also said Friday that the Treasury Department will expand a program, announced earlier this month, to buy mortgage-backed securities, which have been badly hurt by the housing and credit crisis.

(Copyright 2008 by The Associated Press. All Rights Reserved.)


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