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Freddie Mac reports recurring developments tied to U.S. housing finance, mortgage liquidity and its role as the Federal Home Loan Mortgage Corporation. Company news commonly covers the Primary Mortgage Market Survey® for conventional conforming mortgage rates, quarterly financial results, monthly volume summaries and activity across mortgage-related portfolios, securities issuance, delinquencies, debt activities and risk management.
Freddie Mac also reports capital markets activity connected to its Single-Family credit risk transfer programs. Updates include STACR® Structured Agency Credit Risk notes, ACIS® reinsurance transactions and tender offers for certain STACR securities, reflecting the company’s use of private capital markets to transfer residential mortgage credit risk.
Freddie Mac's latest Primary Mortgage Market Survey® shows the 30-year fixed-rate mortgage averaged 6.81%, down from 6.84% last week and lower than the 7.22% recorded a year ago. The 15-year fixed-rate mortgage increased to 6.10% from last week's 6.02%, though still below last year's 6.56%. Chief Economist Sam Khater notes that rates have remained relatively flat as markets await economic policy clarity. The housing market currently faces low demand and sales activity, with inventory remaining significantly undersupplied despite modest improvements.
Freddie Mac (OTCQB: FMCC) has released its Monthly Volume Summary for October 2024, providing comprehensive information about the company's mortgage-related portfolios, securities issuance, risk management, delinquencies, debt activities, and other investments. The summary is now available on the company's website.
Freddie Mac's latest Primary Mortgage Market Survey shows mortgage rates increased, with the 30-year fixed-rate mortgage averaging 6.84%, up from 6.78% last week but down from 7.29% a year ago. The 15-year fixed-rate mortgage rose to 6.02% from 5.99% last week, compared to 6.67% a year ago. Chief Economist Sam Khater notes that purchase demand remains weak as rates approach 7%, while for-sale inventory shows modest increases. New construction has softened due to the elevated interest rate environment.
Freddie Mac (OTCQB: FMCC) announced a new CUSIP registration capability for its ML-Deal offerings, allowing investors to choose between Mortgage or Municipal CUSIP identifiers and exchange certificates between the two through approved Broker Dealers. The initiative aims to increase liquidity in both CMBS and municipal markets while supporting affordable housing. Starting with ML-27, expected to launch December 9th with approximately $250 million in Sustainability Bonds, the program will offer two sets of Structured Pass-Through Certificates. The ML program, launched in 2017, enables investment in tax-exempt securities backed by loans on affordable housing properties receiving 4% low-income housing tax credits.
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.