Housing Market Rebound? FNMA And FMCC Stock Think So

Wednesday’s trading session on the OTC is being led by the penny stocks of the bail-out brothers, Fannie Mae (FMNA) and Freddie Mac (FMCC). After reporting $2.2 billion net income for Q2, its second quarterly gain in net income since being taken over by big brother, the mortgage moguls attribute the increase to improving home prices and fewer foreclosures. Based on those two reasons, one would think that this proves the housing market is in a recovery.

Looking for Hot Penny Stocks? Click here and get Alerts on the Best Penny Stocks FREE.

After 30 minutes of trading, FNMA is up 10.34% at 0.32 with over $3 million in volume on nearly 10 million shares while FMCC is also up 12.59% at 0.322 with dollar volume of nearly $1 million on volume of almost 3 million shares. The two penny stocks are currently leading in the most actively traded column on this lazy August hump day while traders look for the best things to occupy their time until the APS/TBX pick next week.

Since FNMA is slated to pay $2.9 billion to the U.S. Treasury Department in the form of a quarterly dividend, its second consecutive multi-billion dollar dividend payment, is it safe to assume that the housing market is bouncing back?

Here is your opportunity to subscribe to the Most Read Penny Stock Newsletter

If You Can’t Make Money With Us, You Shouldn’t Be Trading Penny Stocks

(We are 100% Anti-Spam and will never rent or sell your information)

Last updated by at .

  Recent Penny Stock News