Rochester,NY 9/1/2009 12:54:11 AM
FRE Freddie Mac Opened at 2.24, spikes to 2.34 and settles to 2.21 in the Mid - Day Trading
Freddie Mac
Freddie Mac purchases residential mortgages and mortgage-related securities in the secondary mortgage market began the day at 2.24, spiking to 2.34 on volume of 100,742,011 shares. During the mid-day the stock Ranged from 2.06 - 2.34.
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Last Trade: 2.22
Day's Range: 2.06 - 2.34
52wk Range: 0.25 - 5.52
Change: Down 0.18 (7.50%)
Volume: 100,742,011
Avg Vol (3m): 47,382,900
About Freddie Mac
Freddie Mac purchases residential mortgages and mortgage-related securities in the secondary mortgage market and securitizes them into mortgage-related securities that can be sold to investors. It operates in three segments: Investments, Single-family Guarantee, and Multifamily. The Investments segment invests primarily in mortgage-related securities and single-family mortgage loans; purchases mortgage loans and mortgage-related securities; and issues short- and long-term debt in the capital markets. The Single-Family Guarantee segment engages in the purchase of single-family mortgages in the primary mortgage market, primarily through its guarantor swap program; securitizes certain mortgages; issues mortgage-related securities that can be sold; and guarantees the payment of principal and interest on single-family mortgage-related securities. The Multifamily segment purchases multifamily mortgages; and guarantees the payment of principal and interest on multifamily mortgage-related securities and mortgages underlying multifamily housing revenue bonds. This segment also holds equity investments in various limited partnerships that sponsor low- and moderate-income multifamily rental apartments. The company primarily serves lenders in the primary mortgage market that originate mortgages for homeowners and apartment owners, including mortgage banking companies, commercial banks, savings banks, community banks, credit unions, state and local housing finance agencies, and savings and loan associations in the United States. Freddie Mac was founded in 1970 and is based in McLean, Virginia.
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