Mortgage rates are still above 7% and home prices remain high [FOX Business Network]
Federal Home Loan Mortgage Corporation (FMCC)
NASDAQ:AMEX Investor Relations:
freddiemac.com/investors
Company Research
Source: FOX Business Network
were above 7%. The average 30-year mortgage rate was 7.17%, up from last week when the average was 7.1%, Freddie Mac reported Last year at this time, 30-year mortgages were slightly better off, but not by much. The average rate was 6.43%. "Mortgage rates continued rising this week," Freddie Mac Chief Economist Sam Khater said in a press release. "Despite rates increasing more than half a percent since the first week of the year, purchase demand remains steady," Khater said. "With rates staying higher for longer, many homebuyers are adjusting, as evidenced by this week's report that sales of newly built homes saw the biggest increase since December 2022." Rates for 15-year fixed-rate mortgages aren't faring much better than 30-year mortgages. The average interest rate this week was 6.44%, up from 6.39%. Last year, 15-year rates were below 6% at 5.71%. If you're looking to purchase a home in today's market, you can explore your mortgage options by visiting Credible to compare
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FMCC
Analyst Actions
- 2/26/24 - Keefe, Bruyette & Woods
FMCC
Sec Filings
- 5/6/24 - Form 8-K
- 5/1/24 - Form 8-K
- 5/1/24 - Form 10-Q
- FMCC's page on the SEC website