by CalculatedRisk on 7/07/2008 12:38:00 PM

Fannie's (FNM) stock price is off 16%

Freddie (FRE) is off 21%

From CNBC:

Freddie Mac ... dropp[ed] ... on investors concerns over its capital positions amid continued weakness in the housing market. Fannie Mae also dropped sharply over the same issues.

Continued weakness in the housing market is news?