Federal Home Stock Price, News & Analysis

Freddie Mac (FMCC) will report its second quarter 2022 financial results on July 28, 2022, before market open. A media call is scheduled for 9 a.m. ET, where results will be discussed. This call will be available via webcast, and replay access will be provided for 30 days. Freddie Mac aims to enhance housing accessibility and affordability for millions by supplying mortgage capital to lenders.

Freddie Mac (OTCQB: FMCC) released its Monthly Volume Summary for June 2022, detailing its mortgage-related portfolios, securities issuance, and risk management activities. The report underscores Freddie Mac's commitment to enhancing mortgage capital accessibility for lenders and making housing affordable for millions. It emphasizes the company's role in building a better housing finance system, which benefits homebuyers, renters, and taxpayers nationwide.

Freddie Mac (OTCQB: FMCC) has appointed Dennis Hermonstyne Jr. as the new senior vice president and chief compliance officer, effective September 19, 2022. With over 20 years of experience in compliance for national and international financial services, Hermonstyne will enhance Freddie Mac's commitment to compliance risk management related to legal and regulatory obligations. Previously, he held executive roles at Santander Bank and E*TRADE Bank, and he brings a strong legal background from various regulatory agencies.

Freddie Mac (OTCQB: FMCC) released research indicating that 32 states, including Washington, D.C., are implementing measures to safeguard affordable housing under the Low-Income Housing Tax Credit (LIHTC) program against climate-related disasters. Of these, 27 states have provisions aiding recovery, with 17 states addressing both resilience and recovery. The research emphasizes the need for disaster-resilient affordable housing, showcasing various strategies that states employ in their Qualified Allocation Plans (QAPs). These actions are designed to reduce disaster risks and enhance recovery efforts for multifamily properties.

Freddie Mac (OTCQB: FMCC) has reported that the average rate for a 30-year fixed-rate mortgage has risen to 5.54% as of July 21, 2022, up from 5.51% the previous week, and significantly higher than 2.78% a year ago. The 15-year FRM also increased to 4.75%, while the 5-year Treasury-indexed hybrid ARM decreased to 4.31%. Chief Economist Sam Khater noted that rising rates, inflation, and recession concerns are softening demand in the housing market, expecting a noticeable moderation in house price appreciation.

Freddie Mac (OTCQB: FMCC) forecasts a slowdown in the single-family purchase market due to rising mortgage rates and house price appreciation. The analysis highlights that homebuyer demand will moderate, correcting from the previous two years of high activity. Key predictions include a 30-year fixed-rate mortgage averaging 5.0% in 2022, house price growth of 12.8% in 2022 declining to 4.0% in 2023, and home sales decreasing from 6.9 million in 2021 to 5.4 million in 2023. Overall mortgage origination is projected to drop from $4.8 trillion in 2021 to $2.3 trillion in 2023.

On July 14, 2022, Freddie Mac (FMCC) reported an increase in mortgage rates, with the 30-year fixed-rate mortgage averaging 5.51%, up from 5.30% the previous week and significantly higher than 2.88% a year ago. The 15-year FRM rose to 4.67% from 4.45%, while the 5-year ARM increased to 4.35% from 4.19%. Chief Economist Sam Khater noted that high rates, escalating home prices, and inflation continue to hinder affordability for many potential homebuyers.

Freddie Mac has released a white paper indicating that multifamily properties exiting the Low-Income Housing Tax Credit (LIHTC) program still generally maintain lower rents compared to broader market levels. Analyzing 133 former LIHTC properties across various markets, the study revealed an average rent decrease of 12%, with Dallas properties showing rents 27% lower than the market comparables. The research aims to highlight risks and the severity of potential affordability loss in the housing market.

Freddie Mac (OTCQB: FMCC) reported the results of its Primary Mortgage Market Survey on July 7, 2022. The 30-year fixed-rate mortgage (FRM) averaged 5.30%, down from 5.70% the previous week and significantly higher than 2.90% a year ago. The 15-year FRM averaged 4.45%, also lower from last week and up from 2.20% a year ago. The 5-year hybrid adjustable-rate mortgage (ARM) averaged 4.19%. Chief Economist Sam Khater noted that the decline is minor relief for buyers amidst rising recession concerns. The housing market is projected to normalize due to low affordability and an anticipated economic slowdown.