The cost of buying a house hit another record high as mortgage rates spike again [Yahoo! Finance]
Federal Home Loan Mortgage Corporation (FMCC)
NASDAQ:AMEX Investor Relations:
freddiemac.com/investors
Company Research
Source: Yahoo! Finance
Findings from Redfin show the combination of steep mortgage rates and elevated home prices has pushed the median monthly housing payment to a record $2,775 – an 11% increase from the same time last year. "Market conditions for homebuyers remain challenging with few homes listed and costs for ownership still climbing," said Ben Ayers, Nationwide senior economist. "Despite strong fundamentals for demand from demographics and a strong labor market, many first-time buyers are being shut out of the market by elevated financing rates and rising prices." MORTGAGE CALCULATOR: SEE HOW MUCH HIGHER RATES COULD COST YOU There are a number of driving forces behind the affordability crisis. Years of underbuilding fueled a shortage of homes in the country, a problem that was later exacerbated by the rapid rise in mortgage rates and expensive construction materials. Higher mortgage rates over the past three years have created a "golden handcuff" effect in the housing market. Sellers who lock
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FMCC
News
- Mortgage rates push higher with no relief in sight: Freddie Mac [FOX Business Network]FOX Business Network
- Average long-term US mortgage rate rises for again, reaching highest level more than five months [Yahoo! Finance]Yahoo! Finance
- Mortgage Rates in US Increase for Fifth Week, Hitting 7.22% [BNN Bloomberg (Canada)]BNN Bloomberg
- Rates Increase Again and at a Key Moment for the Housing Market [Yahoo! Finance]Yahoo! Finance
- Rates Increase Again and at a Key Moment for the Housing MarketGlobeNewswire
FMCC
Analyst Actions
- 2/26/24 - Keefe, Bruyette & Woods
FMCC
Sec Filings
- 5/1/24 - Form 8-K
- 5/1/24 - Form 10-Q
- 4/30/24 - Form ABS-15G
- FMCC's page on the SEC website