Mortgage rates are rising again. Here's how much the steeper rates will cost you [FOX Business Network]
Federal Home Loan Mortgage Corporation (FMCC)
NASDAQ:AMEX Investor Relations:
freddiemac.com/investors
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Source: FOX Business Network
would-be buyers and putting more pressure on the already beleaguered housing market. Mortgage buyer Freddie Mac said Thursday that the average rate on a 30-year loan this week crossed the 7% threshold for the first time this year, jumping from 6.88% to 7.1%. While that is down from a peak of 7.79% in the fall, it remains sharply higher than the pandemic-era lows of just 3%. "It seems increasingly likely that mortgage rates are not going to come down any time soon," said Lisa Sturtevant, Bright MLS chief economist. "We are likely to see rates close to 7% throughout the spring, and in the mid- to high-6s into the summer." Below, you can calculate how volatile increases and decreases in rates could affect the typical cost of a monthly mortgage. Even just a minor change in rates can affect how much would-be homebuyers pay each month. A recent study by LendingTree compared the average monthly payments on 30-year fixed-rate mortgages in April 2022 – when the rate hovered around 3.
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FMCC
News
- KBRA Releases Monthly CMBS Trend Watch [Yahoo! Finance]Yahoo! Finance
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- Mortgage Interest Rates Today, May 3, 2024 | Rates Inch Down but Remain Above 7% [Business Insider]Business Insider
- Mortgage rates push higher with no relief in sight: Freddie Mac [FOX Business Network]FOX Business Network
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