Like AIG, FNM & FRE Are In Fuego Too
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Not only is AIG (NYSE: AIG) seeing significant upside action, but a pair of other bailed-out-bandits, Fannie Mae (NYSE: FNM), Freddie Mac (NYSE: FRE), are also on the rise.
Fannie Mae is up 18% to $1.09 and Freddie Mac is up 17% to $1.55.
Like AIG, volume in both FNM and FRE is huge! AIG said today it will be able to pay back the U.S. govenment. I guess the hope is FNM & FRE will be able to do to same - Good luck with that! Anyway, shorts are getting killed and are being forced to cover.
Today, Bankrate.com reported that the average 30-year fixed mortgage rate fell to 5.52% this week, the lowewst since memorial day. This also could be helping.
Fannie Mae is up 18% to $1.09 and Freddie Mac is up 17% to $1.55.
Like AIG, volume in both FNM and FRE is huge! AIG said today it will be able to pay back the U.S. govenment. I guess the hope is FNM & FRE will be able to do to same - Good luck with that! Anyway, shorts are getting killed and are being forced to cover.
Today, Bankrate.com reported that the average 30-year fixed mortgage rate fell to 5.52% this week, the lowewst since memorial day. This also could be helping.
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