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Freddie Mac has released its Primary Mortgage Market Survey® (PMMS®) on May 16, 2024, showing a slight decrease in mortgage rates for the second consecutive week. The 30-year fixed-rate mortgage (FRM) averaged 7.02%, down from 7.09% the previous week. Comparatively, it was 6.39% a year ago. The 15-year FRM averaged 6.28%, down from 6.38% last week, and 5.75% a year ago. This decrease is attributed to a slight easing in inflation and a dip in the 10-year Treasury yield. These lower rates may offer some financial relief to prospective homebuyers.
Freddie Mac announced the winners of its 2024 Home Possible RISE Awards®, recognizing top Sellers for excellence in providing affordable lending solutions for very low- to low-income homebuyers. The awards honor companies committed to sustainable homeownership, with Freddie Mac purchasing over 96,000 Home Possible and HFA Advantage loans in 2023, supporting first-time homebuyers.
Freddie Mac announced the results of its tender offer for certain STACR Notes, with approximately $1.7 billion aggregate original principal amount of the Notes being validly tendered and not withdrawn. The Offer was conducted in accordance with the Offer Documents, with Nomura Securities International, Inc. and BofA Securities, Inc. as lead dealer managers. The Settlement Date for the Notes is expected on May 14, 2024.
Freddie Mac's Primary Mortgage Market Survey shows a decrease in 30-year fixed-rate mortgage to 7.09% after a five-week climb. The drop was influenced by a weaker job report, impacting both sellers and buyers in the housing market.
Freddie Mac announced a fixed-price cash tender offer for the purchase of certain STACR Notes starting on May 6, 2024. The Offer will expire on May 10, 2024, with a Settlement Date expected on May 14, 2024. Freddie Mac is offering to purchase any and all of the Notes listed in the announcement. The Lead Dealer Managers appointed are Nomura Securities International, Inc. and BofA Securities, Inc. Freddie Mac expects to purchase the Notes listed, with the Total Consideration based on the original principal amount, applicable factor, and Tender Offer Consideration.
Freddie Mac's Primary Mortgage Market Survey reveals a 30-year fixed-rate mortgage at 7.22%, increasing for five weeks straight. Chief Economist Sam Khater notes the impact on Spring Homebuying Season, as home sales peak between March and June. While rates rise, pending home sales show resilience. The 15-year FRM is also up, reflecting market trends and potential challenges for homebuyers.
Freddie Mac announced its First Quarter 2024 financial results, highlighting its mission to support families in the housing market. The company reported earnings and filed its Form 10-Q with the SEC. The results are available online, and a call will be held to discuss the findings.
Freddie Mac (FMCC) has announced the release date for its First Quarter 2024 financial results, scheduled for May 1, 2024. The company will report the results before the U.S. financial markets open and hold a call to share the results with the media at 9 a.m. Eastern Time. Freddie Mac aims to make homeownership possible for families by promoting liquidity, stability, affordability, and equity in the housing market.
Freddie Mac announced the sale of 20 non-performing loans totaling $5.7 million to GITSIT Solutions, , as part of the Extended Timeline Pool Offering (EXPO®). The loans are currently serviced by Specialized Loan Servicing and NewRez The sale aims to reduce less-liquid assets and improve borrower outcomes.
Freddie Mac published its Equitable Housing Finance Plan and Performance Report for 2023, emphasizing sustainable homeownership and rental opportunities for underserved communities. The Plan includes initiatives like down payment assistance, Special Purpose Credit Programs, renter credit building, and access to credit for historically underserved borrowers. The company aims to increase diversity across housing finance, support affordable housing creation and preservation, and provide resources for diverse homebuyers. Freddie Mac's actions are geared towards promoting equity in the single-family and multifamily housing markets.
