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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.Freddie Mac (FMCC) plans to announce its first quarter 2021 financial results before U.S. markets open on April 29, 2021. A call will be held at 9 a.m. ET on the same day to discuss these results, which will be accessible via a webcast and available for replay on the company's website for 30 days. Since its inception in 1970, Freddie Mac has aimed to enhance housing accessibility and affordability for many families and individuals by providing mortgage capital to lenders.
Freddie Mac (OTCQB: FMCC) has priced a new offering of Structured Pass-Through Certificates (K-128 Certificates), totaling approximately $1.4 billion. These certificates are backed by fixed-rate multifamily mortgages, mainly with 10-year terms, and are expected to settle around April 29, 2021. The offering will be managed by Morgan Stanley & Co. LLC and Cantor Fitzgerald & Co. Additional details on pricing and class specifics are included in the press release.
Freddie Mac (OTCQB: FMCC) released its Primary Mortgage Market Survey on April 22, 2021, indicating that the 30-year fixed-rate mortgage (FRM) averaged 2.97%, a decline from 3.04% the previous week and 3.33% a year ago. The 15-year FRM averaged 2.29%, down from 2.35% last week and 2.86% last year. Notably, the 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) rose slightly to 2.83%. The Chief Economist, Sam Khater, highlighted that lower mortgage rates could significantly benefit lower-income and minority homeowners, potentially improving their financial situation.
Freddie Mac (OTCQB: FMCC) has priced its SB85 offering, a multifamily mortgage-backed securitization backed by small balance loans, totaling approximately $384 million. The offering is expected to settle on or about April 23, 2021, marking the fourth SB Certificate transaction for 2021. Freddie Mac guarantees four senior classes and one interest-only class of securities issued by the trust, while additional non-guaranteed certificates will be sold to private investors. The initiative aims to enhance liquidity for smaller apartment properties.
Freddie Mac (OTCQB: FMCC) has priced an offering of approximately $937 million in Structured Pass-Through Certificates (K-F108 Certificates), backed by floating-rate multifamily mortgages with 10-year terms indexed to the Secured Overnight Financing Rate (SOFR). The K-F108 Certificates are set to settle on or about April 29, 2021. The offering includes one senior principal and interest class and one interest-only class. They are not rated and are part of Freddie Mac's strategy to transfer risk to private investors. The co-lead managers are Barclays Capital Inc. and J.P. Morgan Securities LLC.
Freddie Mac (OTCQB: FMCC) announced a decline in the 30-year fixed-rate mortgage to an average of 3.04% for the week ending April 15, 2021, down from 3.13% the previous week. Similarly, the 15-year fixed-rate mortgage averaged 2.35%, down from 2.42%. The 5-year adjustable-rate mortgage also decreased to 2.80%. Chief Economist Sam Khater noted that while mortgage rates are currently lower, inflationary pressures are increasing. A moderate rise in rates is anticipated for the rest of the year, despite current declines.
Freddie Mac (OTCQB: FMCC) anticipates that mortgage rates will rise, with the 30-year fixed-rate mortgage averaging 3.2% in 2021 and 3.7% in 2022. The forecast predicts a decline in total mortgage originations to $3.5 trillion in 2021, influenced by high home prices and low housing supply. Key figures include a projected 6.6% growth in home prices for 2021, a drop in home sales from 7.1 million in 2021 to 6.7 million in 2022, and refinance originations expected to plummet to $770 billion in 2022. These factors may dampen demand in the housing market.
Freddie Mac has priced approximately $964 million in new Structured Pass-Through Certificates (K Certificates), which include floating rate bonds linked to the Secured Overnight Financing Rate (SOFR). The K-F107 Certificates are backed by multifamily mortgages with 7-year terms and are expected to settle around April 22, 2021. The offering involves a senior principal and interest class, as well as an interest-only class entitled to static prepayment premiums. Goldman Sachs & Co. and Amherst Pierpont Securities are co-lead managers for this offering.
Freddie Mac (OTCQB: FMCC) has announced the pricing of a new offering of Structured Pass-Through Certificates, specifically K-1520 Certificates. The total issuance is expected to be approximately $838 million, with settlement projected for April 15, 2021. The certificates are backed by multifamily mortgage-backed securities that aim to transfer risk from taxpayers to private investors. The detailed pricing includes various class categories, weighted average life, coupons, and yields, crucial for investor decision-making.
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