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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.
Freddie Mac (FMCC) has announced the pricing of approximately $754 million in new Structured Pass-Through Certificates (K-F127 Certificates), which are expected to settle around December 23, 2021. These certificates are backed by floating-rate multifamily mortgages with 7-year terms and indexed to the Secured Overnight Financing Rate (SOFR). The offering includes a class of floating rate bonds, with a weighted average life of 6.71 years and a discount margin of 21 basis points. Key institutions involved include Wells Fargo and PNC Capital Markets.
Freddie Mac (OTCQB: FMCC) has announced disaster relief options for homeowners affected by recent tornadoes in Kentucky. The immediate assistance aims to help those in federally declared disaster areas. Homeowners should contact their mortgage servicers to access these options, which include short-term forbearance for up to 12 months without penalties. Various repayment plans are available post-forbearance, such as reinstatement, repayment plans, payment deferrals, and loan modifications. Freddie Mac's relief extends to insured losses outside declared disaster zones, ensuring comprehensive support for affected individuals.
Freddie Mac (OTCQB: FMCC) has announced the pricing of approximately $175 million for its new offering of Multifamily WI K-Deal Certificates, designated as Series WI-K748. The WI Certificates will initially be backed by cash assets for purchasing the A-M class of an upcoming K-Deal, transitioning to backing by a pool of fixed-rate multifamily mortgages with mostly 7-year terms upon the issuance of the K-Deal. The expected settlement date for the certificates is December 15, 2021.
Freddie Mac (OTCQB: FMCC) has priced a new offering of Structured Pass-Through Certificates (K-SG2 Certificates) aimed at multifamily mortgage-backed securities, totaling approximately $626 million. The certificates, expected to settle on December 16, 2021, are designated as Sustainability Bonds due to their backing by mortgage loans that provide affordable housing for low-to-moderate-income families. Notable financial details include different classes of certificates with varying principal amounts, weighted average lives, spreads, coupons, and yields.
Freddie Mac (OTCQB: FMCC) reported that the average 30-year fixed-rate mortgage (FRM) is 3.10% for the week ending December 9, 2021, a slight decrease from 3.11% the prior week. A year ago, the average was 2.71%. The 15-year FRM averaged 2.38%, down from 2.39%, while the 5-year Treasury-indexed ARM averaged 2.45%, down from 2.49%. Chief Economist Sam Khater noted that mortgage rates remain stable but are influenced by the ongoing pandemic and housing affordability challenges.
Freddie Mac (OTCQB: FMCC) has priced a new offering of Structured Pass-Through Certificates, known as K-J36 Certificates, backed by supplemental multifamily mortgages. Approximately $215 million in K Certificates are expected to settle on December 16, 2021. The classes include A-1 and A-2 with different principal amounts, weighted average life, and yield rates. This issuance is designed to shift risk from taxpayers to private investors. Freddie Mac is a major issuer of agency-guaranteed structured multifamily securities, supporting affordable housing.
Freddie Mac (OTCQB: FMCC) announced the pricing of its new offering of Structured Pass-Through Certificates, specifically the K-F126 Certificates, totaling approximately $759 million. These certificates, backed by floating-rate multifamily mortgages with 10-year terms, are expected to settle on or about December 16, 2021. The offering includes a class of floating rate bonds indexed to the Secured Overnight Financing Rate (SOFR). Morgan Stanley and PNC Capital Markets are co-lead managers for the issuance.
Freddie Mac (OTCQB: FMCC) announced the pricing of its latest offering of Structured Pass-Through Certificates (K-1522 Certificates), totaling approximately $740 million. The issuance is set to settle around December 9, 2021. The certificates are backed by the FREMF 2021-K1522 Mortgage Trust, with management aimed at transferring a portion of risk from taxpayers to private investors. The deal is managed by Goldman Sachs and Credit Suisse, with various classes of securities, including Class A-1, A-2, and X1, offering diverse investment options.
Freddie Mac (OTCQB: FMCC) has successfully priced an offering of Structured Pass-Through Certificates (K-135 Certificates), backed by fixed-rate multifamily mortgages. The total issuance is expected to reach approximately $1.2 billion, with settlement anticipated around December 9, 2021. The certificates will feature various classes, including A-1, A-2, A-M, X1, and XAM, each with specific principal amounts and financial metrics. J.P. Morgan and Morgan Stanley lead the offering, aiming to transfer risk from taxpayers to private investors, enhancing market stability.
On December 2, 2021, Freddie Mac (OTCQB: FMCC) announced the results of its Primary Mortgage Market Survey, revealing that the 30-year fixed-rate mortgage averaged 3.11%. This marks a slight increase from last week's average of 3.10%, and a notable rise from 2.71% a year ago. The 15-year fixed-rate mortgage averaged 2.39%, down from 2.42% last week, while the 5-year ARM averaged 2.49%. Freddie Mac's Chief Economist, Sam Khater, highlighted the stability of mortgage rates amidst market volatility.