Federal Home Stock Price, News & Analysis

Freddie Mac (FMCC) and Federal Home Loan Bank of Des Moines announced a partnership to expand affordable housing finance options on tribal lands. The collaboration focuses on promoting Freddie Mac's HeritageOne mortgage offering through FHLB Des Moines' financial institution network. HeritageOne is designed for members of federally recognized Native American tribes living in tribal areas, providing conventional financing for various land ownership types and financial counseling services. The program requires at least one borrower to be an enrolled tribal member who will use the property as their primary residence.

Freddie Mac reports that mortgage rates have increased, with the 30-year fixed-rate mortgage averaging 6.79%, up from 6.72% last week but down from 7.50% a year ago. The 15-year fixed-rate mortgage averaged 6.0%, slightly up from 5.99% last week and lower than 6.81% from the previous year. Chief Economist Sam Khater notes that purchase demand is highly sensitive to rate changes, with purchase applications declining 10% over the last month since rates began rising in early October.

Freddie Mac's latest Primary Mortgage Market Survey® shows mortgage rates have increased for the fifth consecutive week, with the 30-year fixed-rate mortgage averaging 6.72%, up from 6.54% last week and down from 7.76% a year ago. The 15-year fixed-rate mortgage averaged 5.99%, increasing from 5.71% last week and lower than 7.03% from the previous year. Chief Economist Sam Khater notes that rates have reached their highest level since August 2024 and expects continued volatility due to upcoming events including the jobs report, 2024 election, and Federal Reserve decision.

Freddie Mac (OTCQB: FMCC) announced its Third Quarter 2024 financial results on October 30, 2024, and filed its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission. The detailed financial results and supplementary information are available on the Investor Relations page of Freddie Mac's website. The company will hold a call at 9 a.m. Eastern Time (ET) on October 30, 2024, to discuss these results, which will be webcast live and available for replay for 30 days. Freddie Mac continues its mission to promote liquidity, stability, affordability, and equity in the housing market, assisting millions of families since 1970.

Freddie Mac (OTCQB:FMCC) has scheduled the release of its Third Quarter 2024 financial results before U.S. financial markets open on Wednesday, October 30, 2024. The company will host a media call at 9 a.m. ET on the same day, which will be webcast with a replay available on their website for approximately 30 days. All related materials will be accessible through the company's Investor Relations webpage.

Freddie Mac (FMCC) announced new initiatives to enhance housing affordability, particularly for first-time homebuyers. The company introduced LPA Choice, an enhancement to its automated underwriting system, offering tailored information about purchase requirements and actionable feedback. Freddie Mac is expanding its appraisal alternative offerings by increasing automated collateral evaluation (ACE) eligibility from 80% to 90% LTV/TLTV, and ACE+ PDR eligibility up to 97% for Home Possible loans. The company also highlighted the success of DPA One, its down payment assistance platform, which has expanded to nearly 40 states with over 6,000 loan officers using the service.

Freddie Mac (OTCQB: FMCC) announced the nationwide expansion of its performing loan repurchase alternative pilot starting Q1 2025. The program introduces a fee-based structure replacing loan repurchases for most performing loans. Key features include fees for lenders with Non-Acceptable Quality rates above 2%, fee waivers for small lenders without significant NAQ rates, and enhanced risk monitoring. The company also introduced a fee-only remedy option under the traditional program and committed to quarterly repurchase data reporting. Currently, NAQ rates are 28% lower than Q3 2022 peak, with repurchase requests down 55% from Q1 2023 peak, and 80% lower for small lenders.

Freddie Mac (OTCQB: FMCC) released its Monthly Volume Summary for September 2024. The report details the company's mortgage-related portfolios, securities issuance, risk management, delinquencies, debt activities, and other investments. Freddie Mac's mission is to support homeownership and rental housing across the nation, promoting liquidity, stability, affordability, and equity in the housing market. Since 1970, the company has aided millions of families in buying, renting, or retaining their homes.

Freddie Mac announced the pricing of its Seasoned Loans Structured Transaction Trust (SLST) Series 2024-2, a $272.2 million securitization backed by seasoned residential mortgage loans. The transaction includes $245.0 million in guaranteed senior certificates and $27.2 million in non-guaranteed subordinate certificates. The underlying collateral consists of 1,694 fixed-, adjustable-, and step-rate seasoned loans. Since 2011, Freddie Mac has sold $10.3 billion of NPLs and securitized approximately $79.3 billion of RPLs through various programs.