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Freddie Mac, known as FMCC in the stock market, is dedicated to making home ownership accessible and affordable for millions of families across the nation. Established in 1970 by Congress, Freddie Mac provides mortgage capital to lenders, ensuring a better housing finance system for homebuyers, renters, lenders, and taxpayers. They have partnered with various agencies to offer to purchase notes. Moreover, Freddie Mac's Single-Family Credit Risk Transfer programs channel credit risk away from taxpayers to private capital through securities and insurance policies. With a strong mission and commitment to the community, Freddie Mac plays a vital role in ensuring that individuals have access to safe and affordable housing.On December 8, 2022, Freddie Mac (OTCQB: FMCC) reported a significant decline in mortgage rates, with the 30-year fixed-rate mortgage averaging 6.33%, down from 6.49% the previous week. This marks a decrease of nearly three-quarters of a point over the past month, the largest drop since 2008. The 15-year fixed-rate mortgage also fell to 5.67%. Despite these declines, homebuyer sentiment remains low, reflecting ongoing concerns about economic growth and resulting in minimal reaction in purchase demand.
Freddie Mac (OTCQB: FMCC) reported a decrease in mortgage rates in its latest Primary Mortgage Market Survey as of December 1, 2022. The 30-year fixed-rate mortgage averaged 6.49%, down from 6.58% last week, but significantly higher than the 3.11% average a year ago. The 15-year fixed-rate mortgage also decreased to 5.76% from 5.90%. Despite lower rates and softening house prices, homebuyer demand remains limited due to ongoing economic uncertainty.
Freddie Mac (OTCQB: FMCC) reported a decrease in mortgage rates as of November 23, 2022. The 30-year fixed-rate mortgage averaged 6.58%, down from 6.61% the previous week, while the 15-year fixed-rate mortgage averaged 5.90%, a decline from 5.98%. This adjustment reflects market volatility influencing potential homebuyers, leading to a slowdown in existing home sales across all price points. A year ago, these rates were significantly lower, at 3.10% and 2.42% for 30-year and 15-year mortgages, respectively.
Freddie Mac (FMCC) has released its Monthly Volume Summary for October 2022, detailing mortgage-related portfolios, securities issuance, risk management, and debt activities. Established in 1970, Freddie Mac aims to enhance housing accessibility by providing mortgage capital to lenders, contributing to a more efficient housing finance system for buyers, renters, and lenders.
Freddie Mac (OTCQB: FMCC) released its 2021 Green MBS Impact Report, highlighting its Single-Family Green Bond Framework. The report showcases the impact of $617 million in Green MBS issuance, backed by 2,454 GreenCHOICE refinanced mortgages. This initiative contributed to powering 1,877 homes, avoided greenhouse gas emissions equivalent to 2,433 cars, and saved homeowners an average of $1,027 in annual utility costs. Freddie Mac aims to innovate in the green financing space while enhancing its sustainability efforts.
Freddie Mac (FMCC) plans to publish a one-time historical file on December 2, 2022, detailing Social Index scores for mortgage-backed securities (MBS) pools since January 2010. This initiative aims to assist investors in identifying pools with loans that support minority and low-income borrowers. The Social Index introduces two fields: the Social Criteria Share (SCS) and Social Density Score (SDS), enhancing transparency in social investments. Freddie Mac aims to promote socially conscious investments while working alongside Fannie Mae for similar disclosures.
Freddie Mac (OTCQB: FMCC) announced the end of its STACR issuance for 2022 due to market volatility.
In Q3 2022, the Credit Risk Transfer (CRT) program reported $4.7 billion in CRT issuances, totaling over $19.7 billion for the year, protecting $495 billion in unpaid principal balance.
Despite this record performance, Freddie Mac will halt further STACR issuances this year while continuing with ACIS transactions. Cumulatively, Freddie Mac's CRT program has transferred $104.5 billion in credit risk since 2013.
Freddie Mac (OTCQB: FMCC) reported on November 17, 2022, that the average 30-year fixed-rate mortgage dropped to 6.61%, down from 7.08% the previous week and significantly lower than last year's 3.10%. The 15-year fixed-rate mortgage also fell to 5.98% from 6.38%. Chief Economist Sam Khater noted that while the decline is positive, the housing market still faces challenges due to sustained inflation and high interest rates. Additionally, Freddie Mac has launched enhancements to its Primary Mortgage Market Survey methodology for improved data accuracy.
Freddie Mac (FMCC) has released its 2023 funding calendar, detailing optional announcement dates for Reference Notes and Reference Bills securities. The calendar is available on the Debt Securities Auction page of FreddieMac.com. Issuances and auctions will vary based on Freddie Mac’s funding needs and market conditions. Reference Bills auctions are scheduled for Monday mornings, with adjustments for holidays. This announcement does not constitute an offer or solicitation to buy securities. Freddie Mac continues to facilitate mortgage capital accessibility for millions since its establishment by Congress in 1970.
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