Freddie Mac reports recurring developments tied to U.S. housing finance, mortgage liquidity and its role as the Federal Home Loan Mortgage Corporation. Company news commonly covers the Primary Mortgage Market Survey® for conventional conforming mortgage rates, quarterly financial results, monthly volume summaries and activity across mortgage-related portfolios, securities issuance, delinquencies, debt activities and risk management.
Freddie Mac also reports capital markets activity connected to its Single-Family credit risk transfer programs. Updates include STACR® Structured Agency Credit Risk notes, ACIS® reinsurance transactions and tender offers for certain STACR securities, reflecting the company’s use of private capital markets to transfer residential mortgage credit risk.
On March 2, 2023, Freddie Mac (OTCQB: FMCC) reported that the 30-year fixed-rate mortgage (FRM) increased to 6.65%, up from 6.50% the previous week. This rise contrasts sharply with the 3.76% average from a year ago. The 15-year fixed-rate mortgage also rose to 5.89% from 5.76%, compared to 3.01% a year prior. Sam Khater, Freddie Mac's Chief Economist, noted that while lower rates earlier in the year encouraged buyers, current rising rates are creating affordability challenges, particularly for repeat buyers.
Freddie Mac (OTCQB: FMCC) announced the appointment of Sonu Mittal as senior vice president and head of the Single-Family Acquisitions division, effective March 20, 2023. Mittal brings over twenty years of experience in mortgage lending, previously holding several executive roles at Citizens, including President of Home Mortgage. He will oversee seller engagement, credit, products, and affordable mission goals while being part of the Senior Operating Committee. Mittal expressed his commitment to addressing housing affordability challenges. His background includes tenures at Capital One and Chevy Chase Bank, alongside a Bachelor of Science in accounting from George Washington University.
Freddie Mac (OTCQB: FMCC) released its Monthly Volume Summary for January 2023, detailing mortgage-related portfolios, securities issuance, risk management, and debt activities. The report highlights Freddie Mac's commitment to enhancing liquidity, stability, affordability, and equity in the housing market. Since its founding in 1970, the organization has facilitated homeownership for millions of families across the U.S. The summary emphasizes Freddie Mac's ongoing efforts to support the housing economy through its various financial activities and services.
Freddie Mac (OTCQB: FMCC) reported in its latest Primary Mortgage Market Survey that the 30-year fixed-rate mortgage averaged 6.50% as of February 23, 2023. This is an increase from 6.32% the previous week and significantly higher than the 3.89% average from a year ago. Similarly, the 15-year fixed-rate mortgage rose to 5.76% from 5.51% last week, up from 3.14% a year prior. Sam Khater, Chief Economist at Freddie Mac, indicated that a robust economy and rising interest rates could lead to homebuyers saving between $600 to $1,200 annually by shopping for better rates.
Freddie Mac (OTCQB: FMCC) released its fourth quarter and full-year 2022 financial results on February 22, 2023, and filed its Annual Report on Form 10-K with the U.S. Securities and Exchange Commission. Key financial details are available on the company’s Investor Relations page. A media call is scheduled for 9 a.m. ET on the same day to discuss the results, which will also be webcasted. Since 1970, Freddie Mac's mission has been to enhance housing liquidity, stability, and affordability, impacting millions of families across the nation. For more information, visit their official website.
Freddie Mac (OTCQB:FMCC) will report its fourth quarter and full-year 2022 financial results on February 22, 2023, before U.S. markets open. A call to discuss these results will take place at 9 a.m. ET on the same day, accessible via webcast. Materials from the call will be available on their Investor Relations page for about 30 days. Freddie Mac's mission is to enhance housing market stability and affordability for families in the nation.
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Freddie Mac (OTCQB: FMCC) reported on February 16, 2023, that the 30-year fixed-rate mortgage (FRM) has risen to 6.32%, up from 6.12% the previous week, and significantly higher than 3.92% a year ago. Similarly, the 15-year FRM increased to 5.51%, compared to 5.25% last week and 3.15% a year prior. The rise in mortgage rates reflects ongoing resilience in the economy driven by consumer spending, which is also contributing to higher overall housing costs and persistent inflation.
Freddie Mac (OTCQB:FMCC) has announced a rescheduling of its financial results announcement for the fourth quarter and full year of 2022, previously set for February 15, 2023. The company did not provide a new date for the reporting or the accompanying media call and webcast.
This decision affects stakeholders awaiting insights into the company’s performance metrics, which are critical for evaluating its operational effectiveness and market position in the housing sector.
Freddie Mac (OTCQB:FMCC) will report its fourth quarter and full-year 2022 financial results on February 15, 2023, before U.S. markets open. A conference call is scheduled for 9 a.m. ET on the same day, where the company will discuss its results with the media. The call will be available via webcast, and a replay will be accessible on the company's website for 30 days. Freddie Mac's mission focuses on enhancing liquidity and stability in the housing market.