BUSINESS

Fannie, Freddie Bailout Yet To Achieve Goals

11/28/2008 05:12 am ET | Updated May 25, 2011

Almost two months ago, the government sought to revive the nation's ailing mortgage sector by seizing Fannie Mae and Freddie Mac and pumping money into the home-loan market. But so far, the measures have yet to achieve their intended effect.

Backed by taxpayers, the mortgage finance giants have spent billions in an attempt to push down loan rates and make it easier for people to borrow money to buy homes. But mortgage rates have gone up.

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