Fannie Mae and Freddie Mac have been recording strong profits during the first three quarters of 1999, however, their stocks have plummeted, resulting from rising mortgage rates and increased political risk.

Fannie Mae has posted increased earnings every quarter for the past 12 years, including a third-quarter increase of 94 cents per share. And Freddie Mac is expected to announce earnings of 75 cents per share later this month.

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