Freddie Mac Exec Warns on Portfolio Limits

Newsday reports on Freddie Mac:

The president of home mortgage buyer Freddie Mac, Eugene McQuade, Monday warned that limits on the agency's portfolio of mortgage loans and mortgage securities could increase interest rates -- already on the rise -- for consumers.

"Limits on our portfolio will have a significant impact on mortgages rates," McQuade told reporters at a mortgage banking convention. He would not say how much he thought mortgage rates would increase if the second-largest U.S. buyer and guarantor of home mortgages was limited in the number of mortgage loans or bonds backed by mortgages that it can add to its own portfolio of investments.

You'll be hearing more crying from Freddie and Fannie as time goes on.