Federal Home Stock Price, News & Analysis

Freddie Mac (OTCQB: FMCC) announced the acquisition of a $4.6 million loan to finance Seal Beach Shores MHC, a resident-owned manufactured housing community in Seal Beach, California. This 20-year fixed-rate loan will support 125 affordable housing units, facilitated by Capital One. Freddie Mac's MHROC loan program, introduced in 2018, aims to enhance affordable housing options. The agency has been involved in the manufactured housing market since 2014, focusing on providing liquidity and affordable rental options for low-to-moderate income families.

Freddie Mac (OTCQB: FMCC) reported a 2.99% average for the 30-year fixed-rate mortgage in its latest Primary Mortgage Market Survey, a slight decrease from 3.01% the previous week. The 15-year fixed-rate mortgage averaged 2.23%, down from 2.28%. Conversely, the 5-year Treasury-indexed hybrid adjustable-rate mortgage edged up to 2.52%. Economic uncertainties contribute to the competitive mortgage landscape, driving down housing affordability. Despite the current rates being lower than last year, rising mortgage rates and home prices are expected to challenge prospective homeowners.

Freddie Mac (OTCQB: FMCC) announced the pricing of approximately $252 million in new Structured Pass-Through Certificates (K-J35 Certificates), backed by supplemental multifamily mortgages. The issuance is expected to settle around October 14, 2021. With a principal amount of $64.470 million for class A-1 and $188.139 million for class A-2, the weighted average life spans are 3.67 and 7.34 years, respectively. The K-J35 Certificates aim to transfer risk from taxpayers to private investors, featuring stable cash flows and structured credit enhancements.

Freddie Mac (OTCQB: FMCC) has priced its third Seasoned Credit Risk Transfer Trust (SCRT) offering for 2021, amounting to $564 million. This securitization, which includes both guaranteed senior and unguaranteed subordinate securities, focuses on seasoned re-performing loans. The offering consists of approximately $522 million in guaranteed senior certificates and $42 million in subordinate certificates, set to settle on October 14, 2021. The underlying collateral features 3,738 mortgage loans that have been performing and not delinquent for at least six months.

Freddie Mac (OTCQB: FMCC) has priced $102.9 million in Social Bonds aimed at financing affordable housing across 18 states. Approximately 3,100 rental units will benefit, with about 1,100 units serving renters earning 50% or less of the area median income. This transaction marks Freddie Mac's second collaboration with IMPACT Community Capital and aims to enhance socioeconomic opportunities for low- to moderate-income families. Freddie Mac has facilitated funding for around 4,000 affordable units through these initiatives, showcasing its commitment to improving housing accessibility.

Freddie Mac (FMCC) reported that the 30-year fixed-rate mortgage averaged 3.01% for the week ending September 30, 2021, an increase from 2.88% the prior week. The 15-year fixed-rate mortgage rose to 2.28% from 2.15%, while the 5-year ARM averaged 2.48%, up from 2.43%. Chief Economist Sam Khater noted that rising mortgage rates are influenced by the 10-year U.S. Treasury yield and tapering of Federal Reserve support. He anticipates that home prices will moderate as mortgage rates continue to rise.

Freddie Mac (OTCQB: FMCC) released its Monthly Volume Summary for August 2021, detailing its mortgage-related portfolios, securities issuance, and risk management activities. The report highlights Freddie Mac's role in enhancing home accessibility and affordability for many households. Since its establishment by Congress in 1970, the organization has focused on building a robust housing finance system for homebuyers, renters, and lenders across the nation.

Freddie Mac (OTCQB: FMCC) will extend its COVID-19 forbearance agreements for Multifamily loans beyond the original September 30, 2021 deadline. This program helps multifamily operators facing pandemic-related hardships to defer loan payments and includes renter protections against eviction during the forbearance period. Currently, only 1.1% of Freddie Mac's securitized loans are in forbearance, with no new agreements started in August, highlighting a decrease in demand. Freddie Mac's efforts aim to support the multifamily market and provide relief to renters in financial distress.

Freddie Mac (OTCQB: FMCC) has priced a new offering of Structured Pass-Through Certificates, specifically K-1521 Certificates, amounting to approximately $777 million. The issuance is expected to settle on or about September 30, 2021. The structure of the K-1521 Certificates aims to transfer risk from taxpayers to private investors, thereby enhancing liquidity in the multifamily mortgage-backed securities market. Key players in the offering include Wells Fargo and Deutsche Bank, which serve as co-lead managers.