Shares in Federal National Mortgage Association FNMA.PK, also known as Fannie Mae, and shares in Federal Home Loan Mortgage Corp FMCC.PK, commonly known as Freddie Mac, rose sharply on Tuesday for the second day in a row.
Bruce Zaro, managing director at Granite Wealth Management in Providence, Rhode Island said investors focused on lower value stocks may have been positioning for the year end in anticipation of housing market strength in 2024 on the back of expectations that the Federal Reserve will cut interest rates.
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