Freddie Mac Reportedly Invested Billions Betting Against Struggling Homeowners

01/30/2012 05:31 am ET

Freddie Mac, a taxpayer-owned mortgage company, is supposed to make homeownership easier. One thing that makes owning a home more affordable is getting a cheaper mortgage.

But Freddie Mac has invested billions of dollars betting that U.S. homeowners won't be able to refinance their mortgages at today's lower rates, according to an investigation by NPR and ProPublica, an independent, non-profit newsroom.

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