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 (OTCQB: FMCC) announced it will voluntarily delist its last NYSE-traded security, the Debt Securities Due 2025 (CUSIP 3134A2HG6), ticker symbol FMCC 25Z, issued in 1998. The delisting process involves filing a Form 25 with the SEC and NYSE after a ten-day notice period, with the last trading day expected around July 1. Freddie Mac has not arranged for listing the bond on another exchange or quotation medium. This move follows the delisting of its common stock from the NYSE in 2010, directed by the Federal Housing Finance Agency. The delisting is meant to avoid unnecessary rules and administration related to its government conservatorship.
Freddie Mac (OTCQB: FMCC) reported issuing $1.85 billion in Single-Family Green Mortgage-Backed Securities (MBS) in 2023, marking a 35% increase from 2022, despite a general market decline. This issuance now represents a core business segment, doubling its share of Freddie Mac's total MBS issuance.
The 2023 Green MBS program has significant impacts, including energy savings equating to powering 2,000 homes annually, avoiding greenhouse gas emissions akin to removing 2,700 cars, and saving homeowners nearly $700 on yearly utility costs.
From 2021 through 2023, the program's total issuance reached $3.8 billion, covering over 10,000 mortgages. The 2024 plans include refining energy efficiency criteria, streamlining offerings, and establishing standards for continued growth.
Updated reports for 2021 and 2022 reflect corrected energy savings and emissions reduction estimates. The mission of Freddie Mac is to ensure housing market liquidity, stability, affordability, and equity.
Freddie Mac (OTCQB: FMCC) has reported a decrease in mortgage rates in its latest Primary Mortgage Market Survey® (PMMS®). As of June 6, 2024, the 30-year fixed-rate mortgage (FRM) averaged 6.99%, down from 7.03% the previous week. Additionally, the 15-year FRM averaged 6.29%, a slight decrease from 6.36% last week. Despite a slower growth rate in the economy, Freddie Mac's Chief Economist, Sam Khater, anticipates modest declines in mortgage rates for the remainder of 2024. Potential homebuyers are advised to shop around for the best rates. A year ago, the 30-year FRM was 6.71%, and the 15-year FRM was 6.07%.
Freddie Mac (OTCQB: FMCC) released its Monthly Volume Summary for April 2024. The report includes data on mortgage-related portfolios, securities issuance, risk management, delinquencies, debt activities, and other investments. This initiative aligns with the company's mission to enhance market liquidity, stability, and affordability for U.S. families. Freddie Mac has been instrumental in helping millions of families buy, rent, or keep their homes since 1970.
For more details, access the full report on Freddie Mac's website or contact their media or investor representatives.
Freddie Mac's latest Primary Mortgage Market Survey® (PMMS®) reveals an increase in mortgage rates. As of May 30, 2024, the 30-year fixed-rate mortgage (FRM) averaged 7.03%, up from 6.94% the previous week and 6.79% a year ago. Similarly, the 15-year FRM averaged 6.36%, rising from last week's 6.24% and last year's 6.18%. Chief Economist Sam Khater attributes the hike to inflation concerns and tepid demand for longer-dated Treasury auctions, which pushed market yields up. These factors, coupled with stagnant economic signals, have led to higher mortgage rates. The PMMS® focuses on conventional, conforming, fully amortizing home purchase loans for borrowers with excellent credit and a 20% down payment.
Freddie Mac (OTCQB: FMCC) has awarded INB, N.A. one of its Home Possible RISE Awards®. This annual recognition celebrates Freddie Mac's top clients who excel in providing affordable lending solutions for very low- to low-income homebuyers through the Home Possible® and HFA Advantage® mortgage products.
INB, N.A., recognized for its dedication to first-time buyers and families who face homeownership affordability challenges, distinguishes itself as a key player in making homeownership attainable. The award highlights INB's sustained excellence and impactful work in helping families secure sustainable homeownership.
The comprehensive list of award winners can be viewed at SF.FreddieMac.com/RISE. For more information on INB and its services, visit www.inb.com.
Freddie Mac (OTCQB: FMCC) reported a decline in mortgage rates in its Primary Mortgage Market Survey® (PMMS®). The 30-year fixed-rate mortgage (FRM) averaged 6.94% as of May 23, 2024, down from 7.02% the prior week. The 15-year FRM also dropped to 6.24% from 6.28%. This significant drop below 7% for the first time in over a month offers a potential boost for the housing market. Despite a decline in previously owned home sales, the inventory of both new and existing homes has increased. Freddie Mac aims to enhance liquidity, stability, affordability, and equity in the housing market.
Freddie Mac has announced the pricing of its Seasoned Loans Structured Transaction Trust (SLST) Series 2024-1, a securitization valued at approximately $297.5 million. The transaction includes both guaranteed senior and non-guaranteed subordinate securities backed by a pool of seasoned residential mortgage loans. The SLST program is a key component of Freddie Mac's strategy to reduce less-liquid assets and mitigate credit and market risks. This marks the first issuance of floating rate certificates in Freddie Mac's re-performing loan securitizations. The transaction comprises $275.2 million in guaranteed senior certificates and $22.3 million in non-guaranteed subordinate certificates, with an expected settlement date of May 29, 2024. The underlying collateral consists of 1,863 seasoned loans, serviced by Select Portfolio Servicing Inc. and NewRez Advisors for this transaction include BofA Securities, Wells Fargo Securities, Citigroup Global Markets, and Academy Securities.
Freddie Mac has released its Primary Mortgage Market Survey® (PMMS®) on May 16, 2024, showing a slight decrease in mortgage rates for the second consecutive week. The 30-year fixed-rate mortgage (FRM) averaged 7.02%, down from 7.09% the previous week. Comparatively, it was 6.39% a year ago. The 15-year FRM averaged 6.28%, down from 6.38% last week, and 5.75% a year ago. This decrease is attributed to a slight easing in inflation and a dip in the 10-year Treasury yield. These lower rates may offer some financial relief to prospective homebuyers.
Freddie Mac announced the winners of its 2024 Home Possible RISE Awards®, recognizing top Sellers for excellence in providing affordable lending solutions for very low- to low-income homebuyers. The awards honor companies committed to sustainable homeownership, with Freddie Mac purchasing over 96,000 Home Possible and HFA Advantage loans in 2023, supporting first-time homebuyers.
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