Welcome to our dedicated page for FREDDIE MAC news (Ticker: FMCC), a resource for investors and traders seeking the latest updates and insights on FREDDIE MAC stock.
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.Freddie Mac Multifamily has announced a loan purchase cap of $75 billion for 2023, set by the Federal Housing Finance Agency (FHFA) based on market projections. New mission-driven criteria mandate that 50% of loan purchases focus on affordable housing and underserved markets. Key areas include targeted affordable housing, workforce housing, and rural properties. This approach aims to enhance liquidity while supporting affordable multifamily housing. Comparatively, loan purchase caps were $78 billion for 2022 and $70 billion for 2021.
Freddie Mac (OTCQB: FMCC) announced the results of its Primary Mortgage Market Survey on November 10, 2022. The 30-year fixed-rate mortgage averaged 7.08%, up from 6.95% the previous week and 2.98% a year ago. The 15-year fixed-rate mortgage averaged 6.38%, while the 5-year Treasury-indexed ARM averaged 6.06%. Chief Economist Sam Khater noted a significant decline in home sales due to rising mortgage rates and predicts no improvement as year-end approaches. Freddie Mac will enhance the PMMS, changing data collection methods starting November 17, 2022.
Freddie Mac (OTCQB: FMCC) announced its third quarter 2022 financial results, now available on its website. The earnings press release, alongside the Form 10-Q filed with the SEC, provides insights into the company's financial performance. A conference call to discuss these results is scheduled for 9 a.m. ET on November 8, 2022, and will be webcasted, with a replay accessible for 30 days. Since 1970, Freddie Mac has been pivotal in making housing more affordable and accessible for families and individuals across the nation.
Freddie Mac (OTCQB:FMCC) will report its third quarter 2022 financial results before U.S. markets open on November 8, 2022. The company will hold a conference call at 9 a.m. ET on the same day to discuss the results, which will also be available via webcast. A replay of the call will be accessible on the company’s website for 30 days. Freddie Mac aims to enhance housing accessibility by providing mortgage capital to lenders.
Freddie Mac (OTCQB: FMCC) has appointed Ravi Shankar as senior vice president and head of Single-Family Portfolio and Servicing. Shankar, who has over 30 years of experience in finance and capital markets, previously worked at Freddie Mac from 2013-2019 and held senior roles at Boston Consulting Group and United Wholesale Mortgage. His responsibilities will include overseeing portfolio management, servicing, and technology operations, aligning with Freddie Mac's mission to promote affordable housing.
Freddie Mac (OTCQB: FMCC) reported a 30-year fixed-rate mortgage averaging 6.95% as of November 3, 2022, down from 7.08% last week. The 15-year fixed-rate mortgage averaged 6.29%, and the 5-year ARM averaged 5.95%. A year ago, these rates were significantly lower, with the 30-year FRM at 3.09%. Freddie Mac's Chief Economist noted that ongoing high rates and uncertainty in the housing market are dampening demand. Starting November 17, 2022, Freddie Mac will enhance its PMMS by basing results on applications from lenders instead of surveys.
Freddie Mac has released a new white paper that introduces an innovative methodology for identifying economic opportunity areas for very low-, low-, and moderate-income renters. The research employs a hybrid of the Opportunity Atlas and a proprietary Location Score to assess locations based on rental performance and income mobility. The findings align with the Federal Housing Finance Agency's definitions but also reveal additional areas with potential opportunity, emphasizing a continuum view of housing opportunities.
On October 27, 2022, Freddie Mac (OTCQB: FMCC) reported the 30-year fixed-rate mortgage averaged 7.08%, the highest since April 2002, causing stagnation in the housing market. Chief Economist Sam Khater noted that ongoing inflation and rising costs are diminishing consumer confidence, leading potential homebuyers to delay purchases, thereby pushing demand and home prices lower. Additionally, the 15-year fixed-rate mortgage averaged 6.36%, while the 5-year ARM averaged 5.96%. Freddie Mac is improving its data collection methods, with changes effective November 2022.
Freddie Mac (OTCQB: FMCC) published its Monthly Volume Summary for September 2022, detailing its mortgage-related portfolios, securities issuance, risk management, delinquencies, and debt activities. Since its establishment by Congress in 1970, Freddie Mac has played a crucial role in making housing accessible and affordable for millions of families. The report highlights the company's ongoing efforts to build a better housing finance system for homebuyers, renters, lenders, and taxpayers.
FAQ
What is the current stock price of FREDDIE MAC (FMCC)?
What is the market cap of FREDDIE MAC (FMCC)?
When was Freddie Mac established?
What is the core business of Freddie Mac?
What are the key initiatives of Freddie Mac?
How does Freddie Mac manage credit risk?
What are some recent achievements of Freddie Mac?
