Welcome to our dedicated page for Federal Home news (Ticker: FMCC), a resource for investors and traders seeking the latest updates and insights on Federal Home stock.
Freddie Mac (OTCQB: FMCC), formally the Federal Home Loan Mortgage Corporation, regularly issues news and updates that reflect its role in U.S. housing finance. The company describes its mission as making home possible for families across the nation by promoting liquidity, stability and affordability in the housing market throughout all economic cycles. Since 1970, it reports having helped tens of millions of families buy, rent or keep their home.
News about Freddie Mac often covers mortgage rate trends through its Primary Mortgage Market Survey® (PMMS®). These releases provide average rates for products such as the 30-year and 15-year fixed-rate mortgage, focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit. Such updates can give readers insight into movements in mortgage costs and the company’s commentary on housing demand.
Another key news theme is Freddie Mac’s activity in credit risk transfer and securities issuance. The company publishes updates on its Single-Family Credit Risk Transfer (CRT) programs, including STACR® and ACIS® transactions, and on multifamily securities such as K-Deals®, Multi PCs®, SB-Deals®, M-Deals, ML-Deals, Q-Deals, MSCR notes and MCIP policies. These announcements describe how Freddie Mac transfers credit, interest-rate and liquidity risk away from U.S. taxpayers to private investors and (re)insurers.
Freddie Mac also releases information on its Monthly Volume Summary, tender offers for STACR notes, and exchange offers for Gold PCs and Giant PCs. Governance and leadership developments, such as changes in executive roles or board membership, are disclosed through press releases and related SEC filings. Investors and observers can use this news feed to follow Freddie Mac’s mortgage market surveys, securities issuance, risk transfer activity and corporate updates in one place.
Freddie Mac Multifamily announces its loan purchase cap for 2025 at $73 billion, as set by the Federal Housing Finance Agency (FHFA). The company will maintain its 2024 mission-driven requirements, with 50% of loans required to be mission-driven. Freddie Mac securitizes approximately 90% of its multifamily loans, transferring credit risk from taxpayers to private investors. Historically, over 90% of eligible rental units funded are affordable to families with low-to-moderate incomes earning up to 120% of area median income.
Freddie Mac's latest Primary Mortgage Market Survey® shows mortgage rates have stabilized, with the 30-year fixed-rate mortgage averaging 6.78%, slightly down from 6.79% last week and significantly lower than 7.44% a year ago. The 15-year fixed-rate mortgage averaged 5.99%, decreasing from 6.0% last week and 6.76% year-over-year. Chief Economist Sam Khater notes that despite the rate stabilization, affordability remains a challenge for potential homebuyers, with mortgage payments being notably higher compared to rents relative to historical trends over the past three decades.
Freddie Mac (FMCC) and Federal Home Loan Bank of Des Moines announced a partnership to expand affordable housing finance options on tribal lands. The collaboration focuses on promoting Freddie Mac's HeritageOne mortgage offering through FHLB Des Moines' financial institution network. HeritageOne is designed for members of federally recognized Native American tribes living in tribal areas, providing conventional financing for various land ownership types and financial counseling services. The program requires at least one borrower to be an enrolled tribal member who will use the property as their primary residence.
Freddie Mac reports that mortgage rates have increased, with the 30-year fixed-rate mortgage averaging 6.79%, up from 6.72% last week but down from 7.50% a year ago. The 15-year fixed-rate mortgage averaged 6.0%, slightly up from 5.99% last week and lower than 6.81% from the previous year. Chief Economist Sam Khater notes that purchase demand is highly sensitive to rate changes, with purchase applications declining 10% over the last month since rates began rising in early October.
Freddie Mac's latest Primary Mortgage Market Survey® shows mortgage rates have increased for the fifth consecutive week, with the 30-year fixed-rate mortgage averaging 6.72%, up from 6.54% last week and down from 7.76% a year ago. The 15-year fixed-rate mortgage averaged 5.99%, increasing from 5.71% last week and lower than 7.03% from the previous year. Chief Economist Sam Khater notes that rates have reached their highest level since August 2024 and expects continued volatility due to upcoming events including the jobs report, 2024 election, and Federal Reserve decision.
Freddie Mac (OTCQB: FMCC) announced its Third Quarter 2024 financial results on October 30, 2024, and filed its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission. The detailed financial results and supplementary information are available on the Investor Relations page of Freddie Mac's website. The company will hold a call at 9 a.m. Eastern Time (ET) on October 30, 2024, to discuss these results, which will be webcast live and available for replay for 30 days. Freddie Mac continues its mission to promote liquidity, stability, affordability, and equity in the housing market, assisting millions of families since 1970.
Freddie Mac (OTCQB:FMCC) has scheduled the release of its Third Quarter 2024 financial results before U.S. financial markets open on Wednesday, October 30, 2024. The company will host a media call at 9 a.m. ET on the same day, which will be webcast with a replay available on their website for approximately 30 days. All related materials will be accessible through the company's Investor Relations webpage.
Freddie Mac (FMCC) announced new initiatives to enhance housing affordability, particularly for first-time homebuyers. The company introduced LPA Choice, an enhancement to its automated underwriting system, offering tailored information about purchase requirements and actionable feedback. Freddie Mac is expanding its appraisal alternative offerings by increasing automated collateral evaluation (ACE) eligibility from 80% to 90% LTV/TLTV, and ACE+ PDR eligibility up to 97% for Home Possible loans. The company also highlighted the success of DPA One, its down payment assistance platform, which has expanded to nearly 40 states with over 6,000 loan officers using the service.
Freddie Mac (OTCQB: FMCC) announced the nationwide expansion of its performing loan repurchase alternative pilot starting Q1 2025. The program introduces a fee-based structure replacing loan repurchases for most performing loans. Key features include fees for lenders with Non-Acceptable Quality rates above 2%, fee waivers for small lenders without significant NAQ rates, and enhanced risk monitoring. The company also introduced a fee-only remedy option under the traditional program and committed to quarterly repurchase data reporting. Currently, NAQ rates are 28% lower than Q3 2022 peak, with repurchase requests down 55% from Q1 2023 peak, and 80% lower for small lenders.
Freddie Mac (OTCQB: FMCC) released its Monthly Volume Summary for September 2024. The report details the company's mortgage-related portfolios, securities issuance, risk management, delinquencies, debt activities, and other investments. Freddie Mac's mission is to support homeownership and rental housing across the nation, promoting liquidity, stability, affordability, and equity in the housing market. Since 1970, the company has aided millions of families in buying, renting, or retaining their homes.