Freddie Mac joins Fannie Mae in reducing mortgage modification interest rate

Last week, Fannie Mae announced it was cutting its benchmark interest rate for standard mortgage modifications for the second time this year, but Freddie Mac didn’t lower its rate, or so it appeared. As it turns out, Freddie is indeed cutting its benchmark rate to the same level as Fannie, but Freddie just took a little extra time to update its website to reflect that change.