Federal Home Stock Price, News & Analysis

Freddie Mac (OTCQB: FMCC) reported on February 16, 2023, that the 30-year fixed-rate mortgage (FRM) has risen to 6.32%, up from 6.12% the previous week, and significantly higher than 3.92% a year ago. Similarly, the 15-year FRM increased to 5.51%, compared to 5.25% last week and 3.15% a year prior. The rise in mortgage rates reflects ongoing resilience in the economy driven by consumer spending, which is also contributing to higher overall housing costs and persistent inflation.

Freddie Mac (OTCQB:FMCC) has announced a rescheduling of its financial results announcement for the fourth quarter and full year of 2022, previously set for February 15, 2023. The company did not provide a new date for the reporting or the accompanying media call and webcast.

This decision affects stakeholders awaiting insights into the company’s performance metrics, which are critical for evaluating its operational effectiveness and market position in the housing sector.

Freddie Mac (OTCQB:FMCC) will report its fourth quarter and full-year 2022 financial results on February 15, 2023, before U.S. markets open. A conference call is scheduled for 9 a.m. ET on the same day, where the company will discuss its results with the media. The call will be available via webcast, and a replay will be accessible on the company's website for 30 days. Freddie Mac's mission focuses on enhancing liquidity and stability in the housing market.

Freddie Mac (OTCQB: FMCC) announced the final results of its tender offer to purchase STACR® Debt Notes, with approximately $1.639 billion in principal amount validly tendered as of the February 10, 2023 expiration date. A detailed table outlines individual note amounts, tender percentages, and accepted amounts. The settlement date for the accepted notes is expected on February 14, 2023. BofA Securities and Wells Fargo Securities acted as lead managers for the offer. This initiative supports Freddie Mac's mission to mitigate credit risk in the housing market, enhancing liquidity and stability.

Freddie Mac (OTCQB: FMCC) reported that the average 30-year fixed-rate mortgage (FRM) rose to 6.12% as of February 9, 2023, compared to 6.09% the previous week and 3.69% a year ago. The 15-year FRM also increased, averaging 5.25% this week, up from 5.14% last week and 2.93% a year ago. Sam Khater, Freddie Mac’s Chief Economist, noted that mortgage rates have been influenced by a recent Federal Reserve rate hike and robust job growth, prompting potential homebuyers to re-enter the market ahead of the spring buying season.

Freddie Mac (FMCC) announced a fixed-price cash tender offer for its STACR® (Structured Agency Credit Risk) Debt Notes, commencing on February 6, 2023, and expiring on February 10, 2023. The offer includes the purchase of multiple notes with a total principal amount of approximately $1.7 billion. Key dealer managers for the offer are BofA Securities and Wells Fargo Securities. Holders must tender their notes by the expiration time to receive accrued interest and a settlement date expected on February 14, 2023. The tender offer aims to promote liquidity and stability in the housing market.

On February 2, 2023, Freddie Mac (OTCQB: FMCC) announced that the average 30-year fixed-rate mortgage (FRM) dropped to 6.09%, down from 6.13% the previous week and significantly lower than the peak of over 7% in November. This decrease can potentially allow an additional three million mortgage-ready consumers to qualify for a $400,000 loan, aligning with the median home price. The 15-year FRM also fell to 5.14% from 5.17% week-over-week, compared to 2.77% a year ago. Freddie Mac continues to support housing affordability and stability in the market.

Freddie Mac (OTCQB: FMCC) expands its renter credit-building initiative by inviting new vendors to participate. Launched in November 2021 with Esusu, the program has enrolled over 150,000 households, aiding more than 20% of participants in establishing their credit scores. The initiative aims to make on-time rent reporting an industry standard. Vendors must report only on-time payments at no cost to renters, ensure credit for past rental history, and maintain renters' privacy. By enhancing these standards, Freddie Mac seeks to amplify its positive impact on renters' financial health.