Mortgage rates sail past 7% as market moves into critical spring homebuying season [FOX Business Network]
Federal Home Loan Mortgage Corporation (FMCC)
NASDAQ:AMEX Investor Relations:
freddiemac.com/investors
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Source: FOX Business Network
Mortgage rates sailed past 7%, likely dampening homebuying appetite during the market's critical spring homebuying season, according to Freddie Mac. The average 30-year fixed-rate mortgage was 7.10% for the week ending April 18, according to Freddie Mac's latest Primary Mortgage Market Survey . That's an increase from the previous week when it averaged 6.88%. A year ago, the 30-year fixed-rate mortgage averaged 6.39%. The average rate for a 15-year mortgage was 6.39%, up from 6.16% last week and up from 5.76% last year. Homebuyers have seen rates teeter near the 7% market since the start of the year. Borrowing costs are likely to continue elevated as the prospect of a Federal Reserve interest rate cut moves further into the distance. The central bank said at its March meeting that it would continue to monitor inflation and other economic indicators to determine when to lower rates. Market expectations were for a first cut to come early in the summer, but the timeline may be l
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FMCC
News
- Average long-term US mortgage rate rises for again, reaching highest level more than five months [Yahoo! Finance]Yahoo! Finance
- Mortgage Rates in US Increase for Fifth Week, Hitting 7.22% [BNN Bloomberg (Canada)]BNN Bloomberg
- Rates Increase Again and at a Key Moment for the Housing MarketGlobeNewswire
- Redfin Report: For the First Time in Nearly 2 Years, There's No Major American Metro Where Home Prices Are Falling [Yahoo! Finance]Yahoo! Finance
- ‘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]MarketWatch
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