Freddie Mac reports recurring developments tied to U.S. housing finance, mortgage liquidity and its role as the Federal Home Loan Mortgage Corporation. Company news commonly covers the Primary Mortgage Market Survey® for conventional conforming mortgage rates, quarterly financial results, monthly volume summaries and activity across mortgage-related portfolios, securities issuance, delinquencies, debt activities and risk management.
Freddie Mac also reports capital markets activity connected to its Single-Family credit risk transfer programs. Updates include STACR® Structured Agency Credit Risk notes, ACIS® reinsurance transactions and tender offers for certain STACR securities, reflecting the company’s use of private capital markets to transfer residential mortgage credit risk.
Freddie Mac (OTCQB: FMCC) announced its 2022 funding calendar, detailing optional announcement dates for Reference Notes and Reference Bills securities. This calendar is accessible on the Debt Securities Auction page at FreddieMac.com. Issuances may fluctuate based on market demands. Auctions will occur weekly on Monday mornings, with adjustments for holidays, closing by 9:45 a.m. ET. This announcement does not constitute an offer to sell or a solicitation to buy these securities. Freddie Mac continues to support housing accessibility through mortgage capital provision.
Summary not available.
Freddie Mac (OTCQB: FMCC) has priced a new offering of Multifamily WI K-Deal Certificates, expected to issue about $160 million in WI Certificates (Series WI-K747), scheduled to settle around November 23, 2021. The certificates are backed by fixed-rate multifamily mortgages with predominantly 7-year terms. The A-M class will be issued, carrying a coupon of 1.75200% and a yield of 1.74188%. Co-managers include Citigroup Global Markets and J.P. Morgan Securities.
Freddie Mac (OTCQB: FMCC) has priced a new offering of Structured Pass-Through Certificates, specifically the K-134 Certificates, backed by fixed-rate multifamily mortgages. The offering is approximately $1.1 billion and is expected to settle on or around November 24, 2021. Key details include varying principal amounts, weighted average lives, yields, and spreads across different classes such as A-1 and A-2. Freddie Mac aims to transfer risk from taxpayers to private investors through these instruments, enhancing options for multifamily investments.
On November 18, 2021, Freddie Mac (OTCQB: FMCC) reported the results of its Primary Mortgage Market Survey, revealing that the 30-year fixed-rate mortgage averaged 3.10%, up from 2.98% the previous week, and 2.72% a year ago. The 15-year fixed-rate mortgage rose to 2.39% from 2.27% last week, while the 5-year ARM decreased slightly to 2.49%. Chief Economist Sam Khater indicated that rising inflation and consumer spending are driving mortgage rates higher, indicating a challenging housing market due to strong demand amid inventory shortages.
Freddie Mac (OTCQB: FMCC) has announced a new offering of approximately $734 million in Structured Pass-Through Certificates (K-F125 Certificates), expected to settle on November 23, 2021. These certificates are backed by floating-rate multifamily mortgages indexed to the Secured Overnight Financing Rate (SOFR), with a weighted average life of 6.75 years. The offering has one senior principal and interest class and an interest-only class, not rated but guaranteed by Freddie Mac. Co-lead managers include BofA Securities and PNC Capital Markets.
Freddie Mac announced a year-to-date Credit Risk Transfer (CRT) issuance of $14.5 billion, safeguarding $585.5 billion in single-family mortgages. In Q3 alone, CRT issuance reached $4.6 billion, covering $166.6 billion in mortgage balances. Freddie Mac continues to lead the CRT market, engaging over 130 unique participants. Notably, the largest-ever transaction, ACIS 2021-SAP7, was issued at $1.2 billion. Since 2013, the CRT program has transferred approximately $81 billion in credit risk on $2.5 trillion in mortgages.
Freddie Mac (OTCQB: FMCC) has priced a new offering of Multifamily WI K-Deal Certificates, expected to generate approximately $185 million in funding. This offering, known as Series WI-K137, is scheduled to settle on or about November 16, 2021. The certificates will initially be backed by cash assets and then by a pool of fixed-rate multifamily mortgages predominantly with 10-year terms. Co-lead managers for this offering are BofA Securities and Wells Fargo Securities.
Freddie Mac (OTCQB: FMCC) has priced a new offering of approximately $933 million in Structured Pass-Through Certificates (K-746 Certificates), backed by fixed-rate multifamily mortgages with mainly 7-year terms. The issuance is expected to settle around November 18, 2021. The K-746 Trust will issue additional certificates not guaranteed by Freddie Mac. The K-746 Certificates are designed to transfer some risk away from taxpayers to private investors, making them a strategic part of Freddie Mac's business model.
Freddie Mac (OTCQB: FMCC) has priced a new offering of Structured Pass-Through Certificates, specifically K-G06 Certificates, expected to generate approximately $428 million. The issuance is scheduled to settle on or about November 18, 2021. The K-G06 Certificates will be backed by loans from Freddie Mac’s Green Advantage program, which focuses on environmental and social impacts. Key details include a weighted average life of 9.22 years and varying yields across different classes of certificates. This offering aims to transfer risk from taxpayers to private investors.