NEW YORK (CNNMoney.com) — Shares of bailed-out mortgage finance giants Fannie Mae and Freddie Mac soared Monday, as investors try to piggyback on a rally in shares of government-backed financial companies.Fannie (FNM, Fortune 500) shares rose nearly 50% in afternoon trading, while Freddie (FRE, Fortune 500) jumped almost 30%.
The mortgage giants’ Monday rally was sparked in large part by a jump in the shares of companies like AIG (AIG, Fortune 500) and Citigroup (C, Fortune 500), said Paul Miller, analyst at FBR Capital Markets and Co.
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