Federal Home Stock Price, News & Analysis

Freddie Mac (OTCQB: FMCC) reported on June 2, 2022, that the 30-year fixed-rate mortgage averaged 5.09%, down from 5.10% last week but significantly higher than 2.99% a year ago. The 15-year fixed-rate mortgage increased to 4.32%, while the 5-year Treasury-indexed ARM decreased to 4.04%. Chief Economist Sam Khater noted that mortgage rates are still affecting affordability and demand, even as the housing market normalizes with increased supply. The PMMS® focuses on conventional loans for excellent credit borrowers putting 20% down.

Freddie Mac Multifamily has announced the promotions of Corey Aber and Erlita Shively to vice presidents, enhancing its mission to serve the multifamily market. Aber will lead the Multifamily Mission, Policy & Strategy, while Shively will oversee Multifamily Counterparty Risk Management. Aber, a 17-year veteran, will focus on affordable housing initiatives, and Shively, with extensive experience since 1997, will manage lender compliance and risk activities. These promotions align with Freddie Mac's commitment to stability and affordability in the housing sector.

Freddie Mac has announced new automated underwriting capabilities that enhance the verification of assets, income, and employment using borrower-approved bank account data. Starting June 1, 2022, lenders nationwide can utilize this feature through the Asset and Income Modeler (AIM) in Freddie Mac's Loan Product Advisor. The system aims to improve accuracy, efficiency, and risk management in mortgage lending, with potential benefits including a reduction in loan origination costs by 30% and faster cycle times by up to 15 days. This initiative continues Freddie Mac's mission of making homeownership more affordable.

Freddie Mac (OTCQB: FMCC) reported a decrease in mortgage rates for the second consecutive week, with the 30-year fixed-rate mortgage averaging 5.10% on May 26, 2022, down from 5.25% the previous week. This marks a significant rise from 2.95% a year ago. The 15-year fixed-rate mortgage averaged 4.31%, down from 4.43%, while the 5-year adjustable-rate mortgage saw a slight increase to 4.20%. Chief Economist Sam Khater noted that the overall housing market is slowing, impacting consumer spending in related sectors.

Freddie Mac (FMCC) released its Monthly Volume Summary for April 2022, detailing key metrics regarding its mortgage portfolios, securities issuance, and risk management. The report aims to provide transparency and insight into their financial performance, highlighting activities related to mortgage capital and delinquencies. Since its establishment in 1970, Freddie Mac has played a crucial role in making housing accessible across the U.S. The organization continues to focus on enhancing the housing finance system for various stakeholders.

Freddie Mac announced the pricing of its first Seasoned Loans Structured Transaction Trust (SLST) offering for 2022, amounting to approximately $385 million. This includes $345 million in guaranteed senior certificates and $40 million in non-guaranteed subordinate certificates, backed by a pool of 2,731 seasoned residential mortgage loans. The loans are primarily performing, with none over 150 days delinquent. The transaction will settle on May 26, 2022. This move aims to bolster liquidity and manage credit risk, furthering Freddie Mac's mission of providing accessible mortgage capital.

Freddie Mac (OTCQB: FMCC) reported that the 30-year fixed-rate mortgage averaged 5.25% as of May 19, 2022, down from 5.30% the previous week but significantly up from 3.00% a year ago. The 15-year fixed-rate mortgage fell to 4.43%, while the 5-year Treasury-indexed ARM rose to 4.08%. Economic uncertainty has led to mortgage rate volatility, decreasing purchase demand and declining homebuilder sentiment, which is at its lowest in nearly two years. Rising costs for builders exacerbate the situation, suggesting ongoing challenges in the housing market.

Freddie Mac (OTCQB: FMCC) has reached a significant milestone in its K-Deal securitization program, surpassing $500 billion in issuance volume with the settlement of K-F135. This innovative program, initiated in 2009, has transformed Freddie Mac Multifamily's operations by transferring credit risk to investors. Notably, 99.97% of loans securitized through K-Deals remain current, showcasing the program's success. In 2021 alone, Freddie Mac executed 67 deals totaling $63.5 billion. K-Bonds are recognized as leading benchmarks in the multifamily securities market.

Freddie Mac (OTCQB: FMCC) reported in its latest Primary Mortgage Market Survey that the average 30-year fixed-rate mortgage reached 5.30% as of May 12, 2022, up from 5.27% the previous week and significantly higher than 2.94% a year ago. The 15-year fixed-rate mortgage averaged 4.48%, a slight decrease from 4.52% last week, while the 5-year ARM rose to 3.98%. Chief Economist Sam Khater noted that rising rates are increasing monthly payments for homebuyers by approximately one-third compared to last year, which may dampen purchase demand moving forward.