Blog > US Stocks and Markets > Fannie Mae (FNM) and Freddie Mac (FRE) rebound
 | Email This Article Email This Article  | 

Fannie Mae (FNM) and Freddie Mac (FRE) rebound

Posted August 14, 2008

Fannie Mae  (NYSE:FNM) and Freddie Mac (NYSE:FRE) rebounded over 7% each today. But is it enough for Amberger to win a friendly wager?

Baltimore — (TFN):  Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE), the largest financing sources for U.S. mortgages, each jumped over7 percent after the Securities Industry and Financial Markets Association said larger loans financed by the two companies will be allowed in the main market for mortgage bonds.

Too little, too late? For me, maybe. I seem to run a week early or a day late with my predictions. I had anticipated a rebound last Thursday… In fact, I felt so strongly about a technical turnaround for FNM that I wagered Laura Cadden 20 bucks that the FNM would be trading at $11.34 tomorrow.

We may still see that level before the summer is over. But for tomorrow, I may be out 20 bucks.

****Make sure you sign up for our FREE TFN News Feed for breaking news, special reports and new financial videos. Sign up through your favorite reader here. Or, if you prefer, have the feed delivered to your email.

Related Articles


Posted by J. Christoph Amberger · Filed Under US Stocks and Markets 

Comments

close Reblog this comment
Powered by Disqus · Learn more
blog comments powered by Disqus