‘Is this 1980 or 2024?': The housing market feels like it's in a time machine — but that doesn't mean a crash is coming, experts say [MarketWatch]
Federal Home Loan Mortgage Corporation (FMCC)
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Source: MarketWatch
But history suggests that there's no housing bubble that's about to burst, at least based on how home prices trended when mortgage rates soared in the 1980s, one housing expert says. The Federal Reserve, in its fight against inflation, has hiked interest rates, which in turn has pushed up mortgage rates to double their average before the pandemic. Advertisement The rate for the 30-year mortgage averaged 7.17% as of April 25, according to data from Freddie Mac. That's a level that was more common in the early 2000s. But today's housing market looks a lot more like what home buyers encountered in the 1980s, the last time there was such a big difference between the rates on a new 30-year home loan and the rates on all outstanding mortgage debt. Today's market also resembles the '80s because, like today, that was a time when home prices wouldn't come down even as borrowing costs surged, Amy Nixon, a housing economist and a contributor at MacroEdge Research, noted in a post on X
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FMCC
News
- Mortgage rates drop for second straight week to 7.02% [Yahoo! Finance]Yahoo! Finance
- Mortgage rates inch down for second straight week [Yahoo! Finance Canada]Yahoo! Finance Canada
- Mortgage rates drop for second straight week to 7.02% [FOX Business Network]FOX Business Network
- US Mortgage Rates Decrease for Second Week, Falling to 7.02% [Yahoo! Finance]Yahoo! Finance
- Long-term mortgage rates retreat for second straight week, US average at 7.02% [Financial Post (Toronto, Ontario, Canada)]Financial Post
FMCC
Analyst Actions
- 2/26/24 - Keefe, Bruyette & Woods
FMCC
Sec Filings
- 5/9/24 - Form ABS-15G/A
- 5/9/24 - Form ABS-15G/A
- 5/9/24 - Form ABS-15G/A
- FMCC's page on the SEC website