FREDDIE MAC - FMCC STOCK NEWS

On February 2, 2023, Freddie Mac (OTCQB: FMCC) announced that the average 30-year fixed-rate mortgage (FRM) dropped to 6.09%, down from 6.13% the previous week and significantly lower than the peak of over 7% in November. This decrease can potentially allow an additional three million mortgage-ready consumers to qualify for a $400,000 loan, aligning with the median home price. The 15-year FRM also fell to 5.14% from 5.17% week-over-week, compared to 2.77% a year ago. Freddie Mac continues to support housing affordability and stability in the market.

Freddie Mac (OTCQB: FMCC) expands its renter credit-building initiative by inviting new vendors to participate. Launched in November 2021 with Esusu, the program has enrolled over 150,000 households, aiding more than 20% of participants in establishing their credit scores. The initiative aims to make on-time rent reporting an industry standard. Vendors must report only on-time payments at no cost to renters, ensure credit for past rental history, and maintain renters' privacy. By enhancing these standards, Freddie Mac seeks to amplify its positive impact on renters' financial health.

Freddie Mac (OTCQB: FMCC) reported the latest results from its Primary Mortgage Market Survey on January 26, 2023. The 30-year fixed-rate mortgage averaged 6.13%, down from 6.15% the previous week and significantly higher than 3.55% a year ago. Similarly, the 15-year fixed-rate mortgage fell to 5.17% from 5.28% last week, compared to 2.80% a year prior. Chief Economist Sam Khater noted that declining rates are reviving home purchase demand, with strong interest from first-time homebuyers. Freddie Mac continues to support accessible housing finance for millions of individuals and families across the U.S.

Freddie Mac (OTCQB: FMCC) released its Monthly Volume Summary for December 2022, detailing key aspects of its mortgage-related activities. The report covers metrics such as securities issuance, risk management, delinquencies, and debt performance. Since its establishment in 1970, Freddie Mac has aimed to enhance housing accessibility and affordability for individuals and families across the nation. The company continues its efforts to improve the housing finance system.

Freddie Mac (OTCQB: FMCC) released its latest Primary Mortgage Market Survey (PMMS^®) on January 19, 2023, revealing a decrease in the average 30-year fixed-rate mortgage (FRM) to 6.15%, down from 6.33% the previous week. This marks a significant increase from 3.56% a year ago. Similarly, the 15-year FRM averaged 5.28%, down from 5.52% last week. Sam Khater, Freddie Mac’s Chief Economist, noted that declining mortgage rates are enhancing homebuyer demand, despite ongoing concerns about housing supply. The PMMS^® tracks conventional, fully amortizing loans with a 20% down payment.

Freddie Mac's Multifamily division achieved a record production volume of $73.8 billion in 2022, including nearly $1 billion in Low-Income Housing Tax Credit (LIHTC) equity investments. It significantly increased affordable loan purchases to $15.3 billion, a 60% rise from 2021. Freddie Mac financed 693,000 rental units, with over 420,000 affordable to low-income households, surpassing its goals. Notably, 69% of its volume was mission-driven affordable housing. The company made $1.9 billion in forward commitments to support future affordable units, converting 137 commitments in 2022 totaling $1.7 billion. Freddie Mac also securitized $65 billion in assets.

Freddie Mac (FMCC) announced the transition of its legacy USD LIBOR-indexed contracts to the Secured Overnight Financing Rate (SOFR) after June 30, 2023, the final publication date for USD LIBOR rates. This transition aligns with the Federal Reserve Board's final rule and the guidance of its Conservator, the FHFA. Freddie Mac will not adopt term SOFR as a benchmark for new loans or floating-rate securities, nor will it convert existing 30-day Average SOFR-indexed instruments to term SOFR. The company plans to update its LIBOR Transition Playbook and FAQs to assist the housing finance industry with this transition.

Freddie Mac (OTCQB: FMCC) announced the 30-year fixed-rate mortgage averaged 6.33% as of January 12, 2023, down from 6.48% the previous week. A year earlier, the average was 3.45%. The 15-year fixed-rate mortgage also decreased to 5.52% from 5.73% last week, compared to 2.62% a year ago. Chief Economist Sam Khater noted that the market is sensitive to rate shifts, with buyers frequently entering and exiting based on slight rate changes. Freddie Mac continues to provide mortgage capital to enhance housing affordability and access across the U.S.

Freddie Mac (OTCQB: FMCC) reported the issuance of $65.1 billion in securities through its Multifamily risk transfer platform in 2022. Notably, the company settled $46.5 billion in K-Deals and $14.7 billion through When-Issued K-Deals. Multi PC issuance reached a record $11.6 billion, rising from $7 billion in 2021. Freddie Mac's commitment to affordable housing is evident, with $4.8 billion issued across Impact Bonds. Since 2009, it has settled $629 billion in Multifamily securities.