WASHINGTON -- Fears that the woes of the housing industry are not over were triggered Monday when shares of Fannie Mae and Freddie Mac fell to their lowest levels in 14 years.
If the companies have trouble raising capital, it could impact their ability to purchase mortgages from credit unions and other financial institutions. This could cause the housing loans to increase and depress an already troubled market.
The two companies, which have lost more than $11 billion in the nine months ending March 31, own or guarantee $5.2 trillion worth of home mortgages, about half of all outstanding loans.
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