Fannie Mae, Freddie Mac Extend Post-Midterm Losses to 25%

A 25% post-election slide in the two government-sponsored mortgage giants points to a sharp repricing of how the market views their policy backdrop, not a routine pullback. The move matters most for holders of the preferred and common shares, where sentiment around housing-finance reform and the government's role tends to swing hard on political signals. Whether the selling persists once the post-vote reaction fades is the open question, and any clarity on the reform path is the obvious next catalyst to watch.