Mortgage rates drop for the first time in five weeks with experts adjusting their forecasts [Yahoo! Finance]
Federal Home Loan Mortgage Corporation (FMCC)
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Source: Yahoo! Finance
Another index tracking weekly rate movements declined 13 basis points to 7.09% from 7.22% a week prior, according to Freddie Mac . This is the first time the weekly average rate has fallen in over a month. Recent rate volatility — including this week's drop and last month's rise — has prompted some financial institutions to modify their mortgage outlook for the rest of 2024. "An environment where rates continue to hover above 7 percent impacts both sellers and buyers. Many potential sellers remain hesitant to list their home and part with lower mortgage rates from years prior, adversely impacting supply and keeping house prices elevated," said Sam Khater, Freddie Mac's chief economist. "These elevated house prices add to the overall affordability challenges that potential buyers face in this high-rate environment." Experts adjusting the year-end outlook Robust economic data and stubborn inflation have driven housing experts to change their forecast of where rates would land a
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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