Mortgage rates push higher with no relief in sight: Freddie Mac [FOX Business Network]
Federal Home Loan Mortgage Corporation (FMCC)
NASDAQ:AMEX Investor Relations:
freddiemac.com/investors
Company Research
Source: FOX Business Network
The average 30-year fixed-rate mortgage was 7.22% for the week ending May 2, according to Freddie Mac's latest Primary Mortgage Market Survey . That's an increase from the previous week when it averaged 7.17%. A year ago, the 30-year fixed-rate mortgage averaged 6.39%. The average rate for a 15-year mortgage was 6.47%, up from 6.44% last week and up from 5.76% last year. On Wednesday, the Fed announced it would maintain the federal funds rate at 5.25% to 5.5%, where rates have held steady since last July. Fed officials have said in past meetings that they anticipated rate cuts for 2024 but need more confidence that inflation is heading toward the 2% target rate. Fed Chair Jerome Powell reiterated this sentiment on Wednesday and said it would likely take longer for the central bank to gain this confidence when speaking with reporters The delay in rate cuts means mortgage rates will likely stay high longer. With no ease in sight, affordability will continue to be a challenge for
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News
- Looking to purchase a home? These U.S. cities are the most buyer-friendly. [Yahoo! Finance]Yahoo! Finance
- Looking to purchase a home? These U.S. cities are the most buyer-friendly. [CBS News]CBS 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
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