FREDDIE MAC - FMCC STOCK NEWS

Freddie Mac's Multifamily Apartment Investment Market Index (AIMI) showed strong growth in Q3 2024, rising 5.3% quarter-over-quarter and 9.2% year-over-year. The index increased across all markets nationwide, with notable gains in West Coast markets like Oakland (17.3%) and San Francisco (15.7%), and Denver (16.1%) year-over-year.

Key findings include mixed net operating income (NOI) performance, with growth in 18 metros but decline in 6 markets quarterly. Property prices declined nationally and in 17 markets quarterly, with five markets contracting over 10% annually. Mortgage rates decreased by 35 basis points quarterly and 12 basis points annually, marking the first annual decline since Q3 2021.

Freddie Mac's latest analysis reveals that Baby Boomers hold $17 trillion (50%) of the nation's home equity, with 75% planning to leave their wealth to their children. The survey of respondents aged 60+ shows that 68% of Boomer homeowners are confident about a financially comfortable retirement, though this confidence has decreased from 76% in 2016 and 81% in 2021.

Key findings show that 68% of Boomers plan to age in place, while 66% of those planning to move intend to downsize. Of those considering alternative living arrangements, 68% would consider living in an ADU on their children's property. The study also found that half of Boomer homeowners own their homes outright, and 53% of those with mortgages have interest rates below 4%.

Freddie Mac (FMCC) reports a continued decline in mortgage rates, with the 30-year fixed-rate mortgage (FRM) averaging 6.60%, down from 6.69% last week and 6.95% a year ago. The 15-year FRM also decreased to 5.84% from 5.96% last week and 6.38% year-over-year.

Chief Economist Sam Khater notes that declining mortgage rates, strong consumer income growth, and a bullish stock market have boosted homebuyer demand. However, he cautions that housing market improvements remain due to persistent affordability challenges for homebuyers.

Freddie Mac reported a decrease in mortgage rates, with the 30-year fixed-rate mortgage averaging 6.69%, down from 6.81% last week and 7.03% a year ago. The 15-year fixed-rate mortgage averaged 5.96%, decreasing from 6.10% last week and 6.29% from the previous year.

Chief Economist Sam Khater noted that despite a modest rate drop, consumer response has been positive with noticeable improvements in purchase demand, though affordability challenges persist. The survey focuses on conventional, conforming home purchase loans for borrowers with 20% down payment and excellent credit.

Freddie Mac (OTCQB: FMCC) released a study analyzing challenges in Housing Choice Vouchers (HCVs) usage among low-income renters. The research revealed that voucher usage is lower in high-opportunity and higher-rent areas compared to areas of concentrated poverty. The study examined three metro areas: Providence, Rhode Island; Santa Cruz, California; and Jackson, Mississippi.

Key findings indicate that even with increased voucher amounts, renting in expensive neighborhoods may remain cost-prohibitive for voucher holders due to high market rents. The analysis also identified additional barriers including administrative, acceptance, and process challenges. The research aligns with Freddie Mac's Equitable Housing Finance Plan, utilizing HUD data to study voucher usage patterns related to neighborhood affordability and opportunity.

Freddie Mac's latest Primary Mortgage Market Survey® shows the 30-year fixed-rate mortgage averaged 6.81%, down from 6.84% last week and lower than the 7.22% recorded a year ago. The 15-year fixed-rate mortgage increased to 6.10% from last week's 6.02%, though still below last year's 6.56%. Chief Economist Sam Khater notes that rates have remained relatively flat as markets await economic policy clarity. The housing market currently faces low demand and sales activity, with inventory remaining significantly undersupplied despite modest improvements.

Freddie Mac (OTCQB: FMCC) has released its Monthly Volume Summary for October 2024, providing comprehensive information about the company's mortgage-related portfolios, securities issuance, risk management, delinquencies, debt activities, and other investments. The summary is now available on the company's website.

Freddie Mac's latest Primary Mortgage Market Survey shows mortgage rates increased, with the 30-year fixed-rate mortgage averaging 6.84%, up from 6.78% last week but down from 7.29% a year ago. The 15-year fixed-rate mortgage rose to 6.02% from 5.99% last week, compared to 6.67% a year ago. Chief Economist Sam Khater notes that purchase demand remains weak as rates approach 7%, while for-sale inventory shows modest increases. New construction has softened due to the elevated interest rate environment.

Freddie Mac (OTCQB: FMCC) announced a new CUSIP registration capability for its ML-Deal offerings, allowing investors to choose between Mortgage or Municipal CUSIP identifiers and exchange certificates between the two through approved Broker Dealers. The initiative aims to increase liquidity in both CMBS and municipal markets while supporting affordable housing. Starting with ML-27, expected to launch December 9th with approximately $250 million in Sustainability Bonds, the program will offer two sets of Structured Pass-Through Certificates. The ML program, launched in 2017, enables investment in tax-exempt securities backed by loans on affordable housing properties receiving 4% low-income housing tax credits.