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 announced the pricing of a new offering of Structured Pass-Through Certificates, specifically the K-F112 Certificates, totaling approximately $938 million. These certificates are backed by floating-rate multifamily mortgages with a 10-year term linked to the Secured Overnight Financing Rate (SOFR). The offering is set to settle around May 27, 2021. Co-lead managers include Wells Fargo Securities and Citigroup Global Markets, with details available in the preliminary offering circular supplement.
Freddie Mac (OTCQB: FMCC) announced the pricing of its multifamily mortgage-backed securitization, SB86, worth approximately $372 million, expected to settle by May 21, 2021. This offering involves small balance loans ranging from $1 million to $7.5 million, aimed at properties with five or more units. The transaction marks the fifth SB Certificate for 2021, further enhancing liquidity in less populated markets. Freddie Mac continues its commitment to support the small balance loan market through its Optigo SBL initiative.
Freddie Mac (OTCQB: FMCC) reported the results of its Primary Mortgage Market Survey on May 13, 2021, showing a decline in the average 30-year fixed-rate mortgage to 2.94%. This represents a drop from 2.96% the previous week and 3.28% a year ago. The 15-year fixed-rate mortgage and 5-year ARM also saw declines. Chief Economist Sam Khater noted that while low rates present refinancing opportunities, particularly for Black and Hispanic borrowers, inflation may soon drive rates higher. The PMMS focuses on conventional loans for well-qualified borrowers.
Freddie Mac (OTCQB: FMCC) has announced the pricing of approximately $938 million in new K Certificates, specifically the K-F111 Certificates, which are backed by floating-rate multifamily mortgages. These certificates, settling on or about May 20, 2021, feature a weighted average life of 9.52 years and a discount margin of 30-day SOFR average plus 24. Co-Lead Managers include Credit Suisse and Goldman Sachs. The issuance aims to shift some risks from taxpayers to private investors, enhancing cash flow options for buyers.
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Freddie Mac (OTCQB: FMCC) has priced a new offering of Structured Pass-Through Certificates, known as K-742, totaling approximately $773 million. The K Certificates are backed by fixed-rate multifamily mortgages mainly with 7-year terms, set to settle by May 13, 2021. The K-742 offering features various classes, including A-1 and A-2, with specific principal amounts and yields detailed in accompanying tables. Co-lead managers include J.P. Morgan and Barclays Capital, with ratings provided by Fitch Ratings and DBRS. This offering is part of Freddie Mac's strategy to enhance capital access for multifamily housing.
Freddie Mac (OTCQB: FMCC) reported that the 30-year fixed-rate mortgage averaged 2.96% for the week ending May 6, 2021, down from 2.98% the previous week. A year ago, this rate was 3.26%. The 15-year fixed-rate mortgage averaged 2.30%, slightly down from 2.31% last week, while the 5-year Treasury-indexed ARM rose to 2.70% from 2.64%. Freddie Mac's Chief Economist noted that low rates and improving economic conditions benefit both homebuyers and homeowners looking to refinance, supporting increased consumer spending and economic growth.
Freddie Mac (FMCC) has priced a new offering of Structured Pass-Through Certificates (K-742 Certificates), backed by fixed-rate multifamily mortgages with 7-year terms. The total expected issuance is approximately $773 billion, with settlement anticipated on May 13, 2021. Major class details include A-1 with a principal amount of $185.3 million, a weighted average life of 4.63 years, and a coupon yield of 0.8610%. J.P. Morgan Securities and Barclays Capital are the co-lead managers, while Fitch Ratings and DBRS are the rating agencies.
Freddie Mac (OTCQB: FMCC) announces the launch of its new refinancing option, Refi Possible, aimed at assisting lower-income homeowners starting in August. This program will allow eligible borrowers, those making at or below 80% of the area median income, to refinance their mortgages with reduced interest rates and monthly payments, potentially saving them between $100 and $250 monthly. Homeowners can benefit from at least a 0.5% interest rate reduction, with additional perks like a $500 appraisal credit and the option to roll closing costs into the mortgage.
Freddie Mac (OTCQB: FMCC) has announced the pricing of approximately $849 million in new Structured Pass-Through Certificates (K-F110 Certificates), set to settle around May 13, 2021. These K Certificates are backed by floating-rate multifamily mortgages with a 10-year term, indexed to the Secured Overnight Financing Rate (SOFR). The offering includes a senior principal and interest class, as well as an interest-only class with static prepayment premiums. Co-lead managers are BofA Securities and Morgan Stanley, supported by various co-managers.