Reuters - Video

Edition: US | UK | IN | CN | JP

video Business

Wall Street ends slightly higher
Wall Street ends slightly higher - 01:07
Stay away from Pinterest stock, says Hilary Kramer
Stay away from Pinterest stock, says Hilary Kramer - 04:16
Pinterest, Zoom open strong in public trading
Pinterest, Zoom open strong in public trading - 02:07
Breakingviews TV: IPO games
Breakingviews TV: IPO games - 04:01
Samsung foldable phones are cracking -reports
Samsung foldable phones are cracking -reports - 02:10
Global economy: UK shoppers defy Brexit gloom, but trade blues hit Germany, Japan
Global economy: UK shoppers defy Brexit gloom, but trade blues hit Germany, Japan - 01:28
Retail sales rebound in March
Retail sales rebound in March - 01:08
Amazon says it's shutting its China online store
Amazon says it's shutting its China online store - 01:46
Designs of the future at the Shanghai Auto Show
Designs of the future at the Shanghai Auto Show - 02:34
Markets: Unilever, Nestle soothe economic nerves, but Kering sinks
Markets: Unilever, Nestle soothe economic nerves, but Kering sinks - 01:47
Future visions roll into the Shanghai Auto Show
Future visions roll into the Shanghai Auto Show - 01:30
Interest high in Pinterest with $19 share price
Interest high in Pinterest with $19 share price - 02:14
Hungary home to 'world's most expensive wine'
Hungary home to 'world's most expensive wine' - 01:42
Mercedes Benz unveils GLB concept and calls 2019 'year of the SUV'
Mercedes Benz unveils GLB concept and calls 2019 'year of the SUV' - 00:46
Audi releases AI:ME electric self-drive concept at Shanghai Auto Show
Audi releases AI:ME electric self-drive concept at Shanghai Auto Show - 00:52
Wall Street slips with healthcare shares
Wall Street slips with healthcare shares - 01:04
How to play Pinterest and other IPOs
How to play Pinterest and other IPOs - 04:44
Breakingviews TV: Wealth hedge
Breakingviews TV: Wealth hedge - 03:17
EU tariff list includes U.S. jets, fish
EU tariff list includes U.S. jets, fish - 01:15
Automakers see positives despite Chinese downturn
Automakers see positives despite Chinese downturn - 02:32

Fannie Mae and Freddie Mac downgraded.

Tuesday, August 09, 2011 - 01:08

Aug. 8 - The U.S. credit rating downgrade has also dragged down the country's two biggest government sponsored mortgage lenders. Deborah Gembara reports.

▲ Hide Transcript

▶ View Transcript

The U.S. credit rating downgrade has also dragged down the country's two biggest government sponsored mortgage lenders. Fannie Mae and Freddie Mac, holder of almost half of all U.S. mortgages, saw its triple-A credit rating cut by Standard and Poors on Monday. American home buyers could see higher interest rates. Just how high and for how long still isn't clear. Former White House economic advisor Glenn Hubbard. SOUNDBITE: Former White House Economic Advisor Glenn Hubbard saying: "Clearly ratings downgrades are not good for interest rates and mortgage rates but the bigger fear for the housing markets is probably what's rippling through consumer confidence and the equity markets, so Fannie and Freddie downgrades will have some effect but I think it's more modest than these macro effects from lost confidence." The ratings agency based its decision on the view the U.S. hasn't done enough to combat the budget deficit. Deborah Gembara, Reuters.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Close

Fannie Mae and Freddie Mac downgraded.

Tuesday, August 09, 2011 - 01:08