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 (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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Freddie Mac (FMCC) has released its 2023 funding calendar, detailing optional announcement dates for Reference Notes and Reference Bills securities. The calendar is available on the Debt Securities Auction page of FreddieMac.com. Issuances and auctions will vary based on Freddie Mac’s funding needs and market conditions. Reference Bills auctions are scheduled for Monday mornings, with adjustments for holidays. This announcement does not constitute an offer or solicitation to buy securities. Freddie Mac continues to facilitate mortgage capital accessibility for millions since its establishment by Congress in 1970.
Freddie Mac Multifamily has announced a loan purchase cap of $75 billion for 2023, set by the Federal Housing Finance Agency (FHFA) based on market projections. New mission-driven criteria mandate that 50% of loan purchases focus on affordable housing and underserved markets. Key areas include targeted affordable housing, workforce housing, and rural properties. This approach aims to enhance liquidity while supporting affordable multifamily housing. Comparatively, loan purchase caps were $78 billion for 2022 and $70 billion for 2021.
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Freddie Mac (OTCQB: FMCC) announced the results of its Primary Mortgage Market Survey on November 10, 2022. The 30-year fixed-rate mortgage averaged 7.08%, up from 6.95% the previous week and 2.98% a year ago. The 15-year fixed-rate mortgage averaged 6.38%, while the 5-year Treasury-indexed ARM averaged 6.06%. Chief Economist Sam Khater noted a significant decline in home sales due to rising mortgage rates and predicts no improvement as year-end approaches. Freddie Mac will enhance the PMMS, changing data collection methods starting November 17, 2022.