The Real Deal Miami

Mortgage giants tumble 

July 08, 2008 08:05AM

Shares of two government-backed mortgage giants, Fannie Mae and Freddie Mac, have fallen dramatically, signaling that the worst isn’t over for the housing market. Freddie Mac lost 18 percent and Fannie Mae lost 16 percent in a single day. Each has now lost more than 60 percent of its market value this year.