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 (OTCQB: FMCC) has announced key leadership changes in its Multifamily division on December 14, 2022. Steve Johnson has been named Head of Production & Sales, a role he held on an interim basis since May. Bill Buskirk becomes Chief Operating Officer, overseeing asset management, loan administration, marketing, and business strategy. Both leaders bring a combined 42 years of experience at Freddie Mac, contributing to the growth of the Multifamily segment. The appointments aim to position the company for success in 2023 and beyond.
On December 8, 2022, Freddie Mac (OTCQB: FMCC) reported a significant decline in mortgage rates, with the 30-year fixed-rate mortgage averaging 6.33%, down from 6.49% the previous week. This marks a decrease of nearly three-quarters of a point over the past month, the largest drop since 2008. The 15-year fixed-rate mortgage also fell to 5.67%. Despite these declines, homebuyer sentiment remains low, reflecting ongoing concerns about economic growth and resulting in minimal reaction in purchase demand.
Freddie Mac (OTCQB: FMCC) reported a decrease in mortgage rates in its latest Primary Mortgage Market Survey as of December 1, 2022. The 30-year fixed-rate mortgage averaged 6.49%, down from 6.58% last week, but significantly higher than the 3.11% average a year ago. The 15-year fixed-rate mortgage also decreased to 5.76% from 5.90%. Despite lower rates and softening house prices, homebuyer demand remains limited due to ongoing economic uncertainty.
Freddie Mac (OTCQB: FMCC) reported a decrease in mortgage rates as of November 23, 2022. The 30-year fixed-rate mortgage averaged 6.58%, down from 6.61% the previous week, while the 15-year fixed-rate mortgage averaged 5.90%, a decline from 5.98%. This adjustment reflects market volatility influencing potential homebuyers, leading to a slowdown in existing home sales across all price points. A year ago, these rates were significantly lower, at 3.10% and 2.42% for 30-year and 15-year mortgages, respectively.
Freddie Mac (FMCC) has released its Monthly Volume Summary for October 2022, detailing mortgage-related portfolios, securities issuance, risk management, and debt activities. Established in 1970, Freddie Mac aims to enhance housing accessibility by providing mortgage capital to lenders, contributing to a more efficient housing finance system for buyers, renters, and lenders.
Freddie Mac (OTCQB: FMCC) released its 2021 Green MBS Impact Report, highlighting its Single-Family Green Bond Framework. The report showcases the impact of $617 million in Green MBS issuance, backed by 2,454 GreenCHOICE refinanced mortgages. This initiative contributed to powering 1,877 homes, avoided greenhouse gas emissions equivalent to 2,433 cars, and saved homeowners an average of $1,027 in annual utility costs. Freddie Mac aims to innovate in the green financing space while enhancing its sustainability efforts.
Freddie Mac (FMCC) plans to publish a one-time historical file on December 2, 2022, detailing Social Index scores for mortgage-backed securities (MBS) pools since January 2010. This initiative aims to assist investors in identifying pools with loans that support minority and low-income borrowers. The Social Index introduces two fields: the Social Criteria Share (SCS) and Social Density Score (SDS), enhancing transparency in social investments. Freddie Mac aims to promote socially conscious investments while working alongside Fannie Mae for similar disclosures.
Freddie Mac (OTCQB: FMCC) announced the end of its STACR issuance for 2022 due to market volatility.
In Q3 2022, the Credit Risk Transfer (CRT) program reported $4.7 billion in CRT issuances, totaling over $19.7 billion for the year, protecting $495 billion in unpaid principal balance.
Despite this record performance, Freddie Mac will halt further STACR issuances this year while continuing with ACIS transactions. Cumulatively, Freddie Mac's CRT program has transferred $104.5 billion in credit risk since 2013.
Freddie Mac (OTCQB: FMCC) reported on November 17, 2022, that the average 30-year fixed-rate mortgage dropped to 6.61%, down from 7.08% the previous week and significantly lower than last year's 3.10%. The 15-year fixed-rate mortgage also fell to 5.98% from 6.38%. Chief Economist Sam Khater noted that while the decline is positive, the housing market still faces challenges due to sustained inflation and high interest rates. Additionally, Freddie Mac has launched enhancements to its Primary Mortgage Market Survey methodology for improved data accuracy.
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