Resales

Market Conditions

Decisive moves from government agencies have helped the stocks of Fannie Mae and Freddie Mac rebound. The Fed and the Treasury Department on Sunday offered plans. The Treasury Department"s package includes "foreclosure rescue to help strapped homeowners get new, more affordable government-backed mortgages through the Federal Housing Administration, and creates a new regulator and tighter controls for Fannie Mae and Freddie Mac." (MSNBC) Shares of both Fannie and Freddie went up 13% at the opening bell yesterday. This increase helps absorb a portion of the near 60 percent loss they have sustained through the first quarters of this year. While there are mixed responses to the governments plan, it appears to have had a soothing effect on the stocks. Federal Reserve Chairman Ben Bernanke told Congress yesterday that the troubled mortgage institution are in "no danger of failing." Click here to view current Market Conditions in your location.

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