Bailout predictions lowered

The bailouts of two American mortgage finance giants won’t be quite as bad as predicted.

The federal housing finance agency is lowering its estimates for the bailouts of Fannie Mae and Freddie Mac.

The net costs through 2014 are now estimated at about $124 billion, down nearly 20% from last year’s previous estimate of $154 billion.

It will still be the most expensive rescue effort by the federal government during the crisis.