Federal Home Stock Price, News & Analysis

Freddie Mac (OTCQB: FMCC) released its 2023 Sustainability Report, detailing the company's sustainability strategy, activities, and performance for the year. This report includes the Sustainability Accounting Standards Board (SASB) Index and Metrics for 2021-2023 and a Taskforce on Climate-Related Financial Disclosures (TCFD) Index. Key highlights include efforts to provide affordable and sustainable housing, financing for energy and water improvements, green bond issuance, and managing climate-related risks. Carol Khalil, Vice President of Corporate Sustainability, emphasized the importance of equitable and responsible home access amidst economic challenges and natural disasters. The full report is available on FreddieMac.com.

Freddie Mac Multifamily, a key player in multifamily housing finance, is set to launch Multifamily Giant Participation Certificates (Multifamily Giant PCs) on July 1, 2024. These single-class pass-through securities will be collateralized by existing Multi PCs and/or Multifamily Giant PCs. The new product aims to enhance liquidity, efficiency, and flexibility for investors by consolidating smaller certificates into larger, more manageable securities. Two types will be offered initially: taxable fixed-rate and tax-exempt Giant PCs. This product also supports Freddie Mac's mission-driven Social Bonds, promoting affordable housing for low-to-moderate-income families.

Freddie Mac (OTCQB: FMCC) has released its Monthly Volume Summary for May 2024, detailing its mortgage-related portfolios, securities issuance, risk management, delinquencies, debt activities, and other investments. Freddie Mac's mission is to enhance liquidity, stability, affordability, and equity in the housing market. The organization has been instrumental since 1970 in assisting millions of families with homeownership and rental opportunities. The detailed report is available on Freddie Mac's website.

Freddie Mac (OTCQB: FMCC) announced its latest Primary Mortgage Market Survey® (PMMS®) results, showing the 30-year fixed-rate mortgage (FRM) has dropped to 6.87% as of June 20, 2024, from 6.95% last week. This is the third consecutive week of falling rates, driven by signs of cooling inflation and market anticipation of a future Federal Reserve rate cut. The 15-year FRM also saw a decline, now averaging 6.13% compared to 6.17% last week. A year ago, the 30-year and 15-year FRMs were at 6.67% and 6.03%, respectively. Chief Economist Sam Khater highlighted that these lower rates and an improving housing supply are favorable for the housing market, advising prospective homeowners to shop around for the best rates. The PMMS® focuses on conventional, conforming, fully amortizing home purchase loans for borrowers with excellent credit and a 20% down payment.

Freddie Mac Multifamily announced the issuance of $186 million in Social Bonds to support 641 rental homes for individuals with intellectual and developmental disabilities across 26 states. The initiative aims to provide safe, affordable housing, with 79% of beds affordable to people with very low incomes, making 50% or below of the area median income. The bonds are structured as a PC-REMIC, Series 2024-P016, backed by six Multifamily Participation Certificates. Since 2020, Freddie Mac has issued over $7.2 billion in Social Bonds. This transaction aligns with their Social Bonds Framework, advancing their mission to support underserved communities.

The Freddie Mac Multifamily Apartment Investment Market Index (AIMI) rose by 8.7% in Q1 2024, reversing the previous quarter's decline. Year-over-year, the index increased 8.1%. The nationwide rise and gains in 25 regional markets indicate improved investment conditions. Lower property prices and mortgage rates were key contributors. Mortgage rates dropped by 56 basis points, the largest decline since 2010. Net Operating Income (NOI) performance was mixed, with slight growth in some regions and contractions in others. Property prices fell across all markets. This positive shift suggests a more favorable environment for multifamily investments.

Freddie Mac (OTCQB: FMCC) announced their Primary Mortgage Market Survey® results, revealing that the 30-year fixed-rate mortgage (FRM) averaged 6.95% as of June 13, 2024, down slightly from 6.99% the previous week. The 15-year FRM also saw a decrease, averaging 6.17%. Chief Economist Sam Khater attributes the fall in mortgage rates to signs of a cooling economy, although shelter inflation increased, indicating ongoing housing affordability challenges.

Freddie Mac (OTCQB: FMCC) announced it will voluntarily delist its last NYSE-traded security, the Debt Securities Due 2025 (CUSIP 3134A2HG6), ticker symbol FMCC 25Z, issued in 1998. The delisting process involves filing a Form 25 with the SEC and NYSE after a ten-day notice period, with the last trading day expected around July 1. Freddie Mac has not arranged for listing the bond on another exchange or quotation medium. This move follows the delisting of its common stock from the NYSE in 2010, directed by the Federal Housing Finance Agency. The delisting is meant to avoid unnecessary rules and administration related to its government conservatorship.

Freddie Mac (OTCQB: FMCC) reported issuing $1.85 billion in Single-Family Green Mortgage-Backed Securities (MBS) in 2023, marking a 35% increase from 2022, despite a general market decline. This issuance now represents a core business segment, doubling its share of Freddie Mac's total MBS issuance.

The 2023 Green MBS program has significant impacts, including energy savings equating to powering 2,000 homes annually, avoiding greenhouse gas emissions akin to removing 2,700 cars, and saving homeowners nearly $700 on yearly utility costs.

From 2021 through 2023, the program's total issuance reached $3.8 billion, covering over 10,000 mortgages. The 2024 plans include refining energy efficiency criteria, streamlining offerings, and establishing standards for continued growth.

Updated reports for 2021 and 2022 reflect corrected energy savings and emissions reduction estimates. The mission of Freddie Mac is to ensure housing market liquidity, stability, affordability, and equity.