After falling rather dramatically yesterday, embattled mortgage lenders Fannie Mae and Freddie Mac are making some gains today. The financial sector is being helped today by earnings from JP Morgan Chase that were better than expected.

The news bodes well for the recovery of mortgage lenders, and could help the ailing economy move toward recovery. Additionally, the housing starts data from June is in, and starts and building permits are up. Even though they are up at a slow pace, they are, nevertheless, up.