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Stock Analyst Update

Rising Interest Rates Haven't Fazed Fannie Mae

The company's fourth-quarter earnings beat expectations.

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Fannie Mae (FNM), the mortgage purchaser and reseller, reported strong fourth-quarter earnings Thursday. It has been virtually untouched by the rising interest rates that have tripped up some lenders.

The company earned $0.99 per share for the quarter, beating analysts' consensus estimates by two cents. Fannie said its savvy interest-rate risk-management skills and new product initiatives helped the company increase its earnings per share by 15.2% in 1999 when compared with 1998 results.

Laura Pavlenko Lutton does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.