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) 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.
Freddie Mac (OTCQB: FMCC) reported the latest results from its Primary Mortgage Market Survey on January 26, 2023. The 30-year fixed-rate mortgage averaged 6.13%, down from 6.15% the previous week and significantly higher than 3.55% a year ago. Similarly, the 15-year fixed-rate mortgage fell to 5.17% from 5.28% last week, compared to 2.80% a year prior. Chief Economist Sam Khater noted that declining rates are reviving home purchase demand, with strong interest from first-time homebuyers. Freddie Mac continues to support accessible housing finance for millions of individuals and families across the U.S.
Freddie Mac (OTCQB: FMCC) released its Monthly Volume Summary for December 2022, detailing key aspects of its mortgage-related activities. The report covers metrics such as securities issuance, risk management, delinquencies, and debt performance. Since its establishment in 1970, Freddie Mac has aimed to enhance housing accessibility and affordability for individuals and families across the nation. The company continues its efforts to improve the housing finance system.
Freddie Mac (OTCQB: FMCC) released its latest Primary Mortgage Market Survey (PMMS®) on January 19, 2023, revealing a decrease in the average 30-year fixed-rate mortgage (FRM) to 6.15%, down from 6.33% the previous week. This marks a significant increase from 3.56% a year ago. Similarly, the 15-year FRM averaged 5.28%, down from 5.52% last week. Sam Khater, Freddie Mac’s Chief Economist, noted that declining mortgage rates are enhancing homebuyer demand, despite ongoing concerns about housing supply. The PMMS® tracks conventional, fully amortizing loans with a 20% down payment.
Freddie Mac's Multifamily division achieved a record production volume of $73.8 billion in 2022, including nearly $1 billion in Low-Income Housing Tax Credit (LIHTC) equity investments. It significantly increased affordable loan purchases to $15.3 billion, a 60% rise from 2021. Freddie Mac financed 693,000 rental units, with over 420,000 affordable to low-income households, surpassing its goals. Notably, 69% of its volume was mission-driven affordable housing. The company made $1.9 billion in forward commitments to support future affordable units, converting 137 commitments in 2022 totaling $1.7 billion. Freddie Mac also securitized $65 billion in assets.
Freddie Mac (FMCC) announced the transition of its legacy USD LIBOR-indexed contracts to the Secured Overnight Financing Rate (SOFR) after June 30, 2023, the final publication date for USD LIBOR rates. This transition aligns with the Federal Reserve Board's final rule and the guidance of its Conservator, the FHFA. Freddie Mac will not adopt term SOFR as a benchmark for new loans or floating-rate securities, nor will it convert existing 30-day Average SOFR-indexed instruments to term SOFR. The company plans to update its LIBOR Transition Playbook and FAQs to assist the housing finance industry with this transition.
Freddie Mac (OTCQB: FMCC) announced the 30-year fixed-rate mortgage averaged 6.33% as of January 12, 2023, down from 6.48% the previous week. A year earlier, the average was 3.45%. The 15-year fixed-rate mortgage also decreased to 5.52% from 5.73% last week, compared to 2.62% a year ago. Chief Economist Sam Khater noted that the market is sensitive to rate shifts, with buyers frequently entering and exiting based on slight rate changes. Freddie Mac continues to provide mortgage capital to enhance housing affordability and access across the U.S.
Freddie Mac (OTCQB: FMCC) reported the issuance of $65.1 billion in securities through its Multifamily risk transfer platform in 2022. Notably, the company settled $46.5 billion in K-Deals and $14.7 billion through When-Issued K-Deals. Multi PC issuance reached a record $11.6 billion, rising from $7 billion in 2021. Freddie Mac's commitment to affordable housing is evident, with $4.8 billion issued across Impact Bonds. Since 2009, it has settled $629 billion in Multifamily securities.
Freddie Mac (OTCQB: FMCC) announced that the 30-year fixed-rate mortgage averaged 6.48 percent as of January 5, 2023, up from 6.42 percent the previous week and significantly higher than 3.22 percent a year ago. The 15-year fixed-rate mortgage also rose to 5.73 percent. Chief Economist Sam Khater noted a drastic decline in mortgage application activity, reaching a 25-year low, primarily due to high mortgage rates. However, he predicts that easing inflation could lead to lower rates in 2023, with potential refinancing opportunities for recent borrowers.
Freddie Mac (OTCQB: FMCC) reported the latest findings from its Primary Mortgage Market Survey on December 29, 2022. The average 30-year fixed-rate mortgage rose to 6.42%, up from 6.27% the previous week and significantly higher than 3.11% a year ago. The 15-year fixed-rate mortgage slightly decreased to 5.68% from 5.69%. Chief Economist Sam Khater indicated that the housing market shows ongoing weakness with declining sales, inventory, and prices, while forward indicators suggest continued challenges throughout winter.