Last Updated: Thursday, 30 August 2007
Sub-prime slump hits Freddie Mac http://news.bbc.co.uk/2/hi/business/6970934.stm
[Freddie Mac said credit losses would continue into next year]
US mortgage lender Freddie Mac has suffered a steep fall in second quarter profits, as record defaults on home loans took their toll.
The government-backed firm that buys mortgages from commercial lenders saw 45% wiped off its net income to $764m (£379.2m), from $1.4bn the year before. http://news.bbc.co.uk/2/hi/business/6970934.stm