FREDDIE MAC - FMCC STOCK NEWS

Freddie Mac's latest Primary Mortgage Market Survey® reveals a decline in mortgage rates, with the 30-year fixed-rate mortgage (FRM) averaging 6.73%, down from 6.78% last week and 6.90% a year ago. The 15-year FRM also decreased to 5.99% from 6.07% last week and 6.25% a year ago.

Chief Economist Sam Khater notes that expectations of a Fed rate cut and cooling inflation are positive signs for the market. However, consumer confidence remains cautious due to ongoing affordability challenges. Encouragingly, recent moderation in home price growth and increased housing inventory may benefit potential homebuyers.

Freddie Mac (OTCQB: FMCC) has released its Second Quarter 2024 financial results and filed its Quarterly Report on Form 10-Q with the SEC. The company's Form 10-Q, earnings press release, and financial results supplement are now available on the Investor Relations page of Freddie Mac's website. A media call is scheduled for 9 a.m. ET on July 31, 2024, to discuss the results, with a concurrent webcast and replay available for approximately 30 days.

Freddie Mac's mission focuses on promoting liquidity, stability, affordability, and equity in the housing market across all economic cycles. Since 1970, the company has assisted tens of millions of families in buying, renting, or keeping their homes.

Freddie Mac (OTCQB:FMCC) has announced the release date for its Second Quarter 2024 financial results. The company plans to report its results before the U.S. financial markets open on Wednesday, July 31, 2024. A media call is scheduled for 9 a.m. Eastern Time on the same day to discuss the results. The call will be webcast live and a replay will be available on the company's website for approximately 30 days. All related materials will be accessible on Freddie Mac's Investor Relations page.

Freddie Mac's mission focuses on making homeownership possible for families across the nation by promoting liquidity, stability, affordability, and equity in the housing market throughout all economic cycles. Since 1970, the company has assisted tens of millions of families in buying, renting, or keeping their homes.

Freddie Mac (OTCQB: FMCC) has released its Monthly Volume Summary for June 2024, providing important insights into the company's mortgage-related activities. The report covers various aspects of Freddie Mac's operations, including securities issuance, risk management, delinquencies, debt activities, and other investments.

As a key player in the U.S. housing market, Freddie Mac continues to focus on its mission of making homeownership accessible to families nationwide. The company emphasizes its commitment to promoting liquidity, stability, affordability, and equity in the housing market across all economic cycles. Since its inception in 1970, Freddie Mac has assisted tens of millions of families in buying, renting, or maintaining their homes.

Freddie Mac's Primary Mortgage Market Survey® (PMMS®) shows little movement in mortgage rates, with the 30-year fixed-rate mortgage (FRM) averaging 6.78%, up slightly from 6.77% last week. The 15-year FRM averaged 6.07%, up from 6.05% last week. Despite rates decreasing nearly half a percent from their peak earlier this year, buyers continue to pause, as reflected in declining new and existing home sales data.

Compared to a year ago, the 30-year FRM is slightly lower (6.81% in 2023), while the 15-year FRM is also lower (6.11% in 2023). The PMMS® focuses on conventional, conforming, fully amortizing home purchase loans for borrowers with 20% down payment and excellent credit.

Freddie Mac's (OTCQB: FMCC) 2024 Midyear Outlook forecasts muted multifamily performance for the remainder of the year due to historically high supply of new units. Despite strong demand, the outlook predicts below-average rent growth of 2.7% and a modest increase in vacancy rates to 6% through 2024. The report highlights an overall shortage of housing, an expensive for-sale market, and favorable demographic trends as factors priming the multifamily market for long-term growth.

The outlook projects gross rental income growth of 2.5% for 2024, favoring secondary and tertiary markets in the southern plains and Sun Belt regions. Freddie Mac Multifamily predicts transaction volume could rebound to about $320 billion if market conditions stabilize during the second half of the year. The report notes that elevated interest rates and increasing cap rates are putting downward pressure on property prices.

Freddie Mac's latest Primary Mortgage Market Survey® reveals a decline in mortgage rates, with the 30-year fixed-rate mortgage (FRM) averaging 6.77%, down from 6.89% last week. This marks the lowest level since mid-March. The 15-year FRM also decreased to 6.05% from 6.17% last week.

Despite lower rates, homebuyer demand remains sluggish, with purchase application demand about 5% below Spring levels. Sam Khater, Freddie Mac's Chief Economist, notes this paradox is not uncommon, as buyers may be waiting to ensure rates don't decline further before making a purchase decision.

The survey focuses on conventional, conforming home purchase loans for borrowers with 20% down payment and excellent credit. Freddie Mac continues its mission to promote liquidity, stability, affordability, and equity in the housing market.

Freddie Mac (OTCQB: FMCC) is reminding homeowners and mortgage servicers of its immediate relief options during hurricane and wildfire seasons, including for those affected by Hurricane Beryl and California wildfires. The company offers a forbearance program providing up to 12 months of mortgage relief without late fees or penalties. Homeowners in Presidentially-Declared Major Disaster Areas or experiencing insurable losses are eligible for these options.

After the forbearance period, homeowners have several options to make up missed payments, including reinstatement, repayment plans, payment deferral, and loan modification. Freddie Mac emphasizes that lump sum payments are available but not required for Freddie Mac-owned loans. The company urges affected homeowners to contact their mortgage servicers as soon as possible to discuss available relief options.

Freddie Mac (OTCQB: FMCC) released its latest Primary Mortgage Market Survey® (PMMS®) on July 11, 2024. The survey revealed that the 30-year fixed-rate mortgage (FRM) averaged 6.89%, down from 6.95% the previous week, and slightly lower than the 6.96% average a year ago. The 15-year FRM also saw a decrease, averaging 6.17%, compared to 6.25% last week and 6.30% a year ago. The decline in mortgage rates follows a decrease in the 10-year Treasury yield after June's jobs report indicated a cooling labor market. Increased housing inventory and price cuts provide a positive outlook for prospective buyers.