Fannie Mae's CEO told shareholders Tuesday that the housing market is "about halfway through" its crisis and home prices could fall as much as 25 percent before the worst is over.
The Home Depot Inc. doesn't know if stimulus checks making their way to potential customers are enough to improve its fortunes this year, the company said Tuesday as it reported a 66 percent drop in first-quarter profit.
Profits from government-sponsored mortgage giants Fannie Mae and Freddie Mac, instead of taxpayers, would back up a home loan rescue for up to 500,000 strapped borrowers under a plan approved by a key Senate committee Tuesday to pull the nation out of a housing slump.
President Bush, acknowledging the economic "tough times" for many Americans, said Monday that he remains opposed to any homeowner rescue legislation that would be a bailout for lenders.
