Federal National Mortgage Association (OTCBB:FNMA) shares up by 41.43%, Federal Home Loan Mortgage Corp (OTCBB:FMCC)
Hartford, CT 05/28/2013 (GDPInsider) – In Friday’s trading session, Federal National Mortgage Association (OTCBB:FNMA) rose by 41.43%. Its opening price of $2.26 rose to touch an intraday high of $3.15 which eventually headed down to close at $2.20 per share. More than 156.20 million shares exchanged hands in the last trading session. This number stood above the average volume of 36.16 million that was measured over a 30-day period.
Federal National Mortgage Association (Fannie Mae) is a provider of stability and liquidity support services. These are part of the secondary mortgage market in the U.S. It is frontrunner of residential-mortgage credit in the United States secondary market. Fannie Mae is supporting the current economic recovery and being a firm support for an improved housing finance system. The company guarantees and purchases loans from various mortgage lenders to ensure that families can buy homes, rent a good home or refinance.
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In Friday’s trading session, FMCC Federal Home Loan Mortgage Corp (OTCBB:FMCC) rose by 40.50%. Its opening price of $2.20 rose to touch an intraday high of $3.03 which eventually headed down to close at $2.20 per share. More than 66.85 million shares exchanged hands in the last trading session. This number stood above the average volume of 15.09 million that was measured over a 30-day period.
Freddie Mac operates under a conservatorship that commenced on 6 September 2008. The company conducts its business under the Federal Housing Finance Agency’s direction. It is very focused on meeting the urgent liquidity needs that exist in the United States residential-mortgage market. It helps lower costs for the borrowers and supports the recovery of the housing market as well as the U.S. economy. It continues providing access to funding for various mortgage originators. Indirectly, it does the same for mortgage borrowers.
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