F
reddie Mac's leadership is in flux again after CEO Diana Reid was let go, prompting Mike Hutchins to take on the interim CEO role for the second time this year. Hutchins, an economist and author who joined Freddie Mac in 2013, previously held the temporary position before being replaced by Reid last September. As head of the Federal Housing Finance Agency, Bill Pulte continues to shake up leadership at Freddie Mac, a key player in the nation's mortgage market.

    Pulte has made several high-profile moves recently, including appointing himself as board chair of both Freddie Mac and Fannie Mae, ousting 14 existing board members and adding seven new ones. This includes a DOGE-affiliated engineer who quit just one day later. The FHFA chief operating officer and human resources director were also placed on leave, along with "dozens of other agency employees."

    Freddie Mac does not make loans directly; instead, it buys mortgages from lenders and bundles them for sale to investors, supporting the flow of money in the housing finance system. Some have expressed concerns about privatizing the entities, which could cause market chaos if not handled carefully.

    In related news, Housing and Urban Development Secretary Scott Turner wants to relocate his department out of its current home, a Brutalist building that some describe as "handsome" but others call "the ugliest in D.C." The General Service Administration's Public Buildings Service supports the move, citing deferred liabilities and a need for a more suitable space.

    The Washington, D.C. housing market is showing signs of life, with listings on the rise and buyer interest increasing. Pending contracts are up 7.4% from last week and 1.5% compared to this time last year, according to Bright MLS data.