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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 (OTCQB: FMCC) announced in its latest Primary Mortgage Market Survey that the average 30-year fixed-rate mortgage rate is now 2.80%, a slight increase from the previous week's 2.78%. This low rate reflects continued economic recovery as the nation grapples with COVID-19 variants. The survey also noted a record low for the 15-year fixed-rate mortgage at 2.10%. The PMMS targets borrowers with excellent credit and 20% down payments, illustrating Freddie Mac's ongoing commitment to enhancing housing affordability across the U.S.
Freddie Mac (FMCC) reported its second quarter 2021 financial results on July 29, 2021, detailing its ongoing efforts to provide mortgage capital to lenders. The results, available in the Form 10-Q filed with the SEC, highlight Freddie Mac's commitment to making housing more accessible and affordable. A media call is scheduled for 9 a.m. ET to discuss these results, which will also be webcast and available for replay on the company's website for 30 days. For further information, visit FreddieMac.com/investors.
Freddie Mac (OTCQB: FMCC) released its June 2021 Monthly Volume Summary, detailing key metrics related to its mortgage portfolios, securities issuance, risk management, and delinquencies. The report highlights Freddie Mac's role in providing mortgage capital, contributing to accessible housing for millions since its inception in 1970. The organization continues to focus on building a more efficient housing finance system to support homebuyers, renters, lenders, and taxpayers.
Freddie Mac (OTCQB:FMCC) will report its Q2 2021 financial results on July 29, 2021, before U.S. markets open. A conference call will follow at 9 a.m. ET to discuss the results, with a simultaneous webcast available for those interested. The Investor Relations section of Freddie Mac’s website will host all related materials. Freddie Mac aims to improve housing accessibility and affordability for numerous individuals and families nationwide.
Freddie Mac (OTCQB: FMCC) anticipates record-setting multifamily origination volume in 2021, with projections ranging from $385 billion to $410 billion. The multifamily housing demand has surpassed pre-pandemic levels, driven by improving economic conditions and strong investor interest. Despite some larger gateway markets like New York and San Francisco continuing to face challenges, nearly 90% of metro areas are expected to see positive rent growth. The vacancy rate is projected to decrease to 5.0%, with rents rising by 2.5% overall.
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Freddie Mac (FMCC) has priced approximately $232 million in new Multifamily Structured Credit Risk (MSCR) Notes, Series 2021-MN2. This initiative aims to mitigate mortgage credit risk while promoting affordable rental housing. The MSCR program transfers credit risk on multifamily mortgage loans to private investors. The reference pool for these notes includes 40 loans with an unpaid principal balance of around $4 billion, with 91% supporting low-income families. Notably, Freddie Mac retains significant risk in senior loss and first-loss classes.
Freddie Mac (OTCQB: FMCC) has appointed Jerry Mauricio as the new senior vice president and chief compliance officer, effective immediately. Mauricio, who has been serving as Interim CCO since January 2021, brings over two decades of compliance expertise from various global financial institutions. He has been with Freddie Mac since 2019, holding roles in capital markets and consumer compliance. Mauricio will oversee compliance risk management, ensuring regulatory obligations are met. CEO Michael DeVito highlights Mauricio's experience as beneficial for Freddie Mac's safety and risk management efforts.
Freddie Mac (OTCQB: FMCC) reported a decline in mortgage rates, with the 30-year fixed-rate mortgage averaging 2.78% as of July 22, 2021, down from 2.88% the previous week and 3.01% a year ago. The 15-year fixed-rate mortgage also decreased to 2.12% from 2.22%, whereas the 5-year adjustable-rate mortgage slightly rose to 2.49%. Chief Economist Sam Khater noted that the pandemic's Delta variant is influencing economic growth and limiting homebuyer access to low rates due to low inventory and high prices, despite opportunities for refinancing.
Freddie Mac (OTCQB: FMCC) has priced its second Seasoned Loans Structured Transaction Trust (SLST) offering of 2021, securitizing approximately $772 million of seasoned re-performing loans (RPLs). The structured transaction includes about $687 million in guaranteed senior certificates and $85 million in non-guaranteed subordinate certificates. This move aims to reduce less-liquid assets in Freddie Mac's mortgage-related investments and mitigate credit and market risk. The transaction is set to settle on July 29, 2021.