Recovery Passes by Freddie's Stock

May 31, 2006, 2:00 p.m. EDT 1 Min Read

Most mortgage stocks, along with the rest of the market, took a hit Tuesday as renewed inflation fears put downward pressure on stocks, but Wednesday morning brought a recovery for most mortgage stocks that passed by Freddie Mac.By noon Wednesday mortgage stocks were in recovery mode, with many seeing gains that wiped out Tuesday's losses. Not so fortunate was secondary-market giant Freddie Mac, which was off more than 2% at noon after releasing final 2005 earnings after the close of the markets on Tuesday. Freddie Mac was trading at $60.17 just after noon, down $1.41 from its opening price.

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