US 30-year fixed-rate mortgage falls to 7.09%, still too high to boost housing [Reuters]
Federal Home Loan Mortgage Corporation (FMCC)
NASDAQ:AMEX Investor Relations:
freddiemac.com/investors
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Source: Reuters
The average rate on the popular 30-year fixed-rate mortgage was down to 7.09% as of May 9, from 7.22% last week, ending five straight weekly increases, mortgage finance agency Freddie Mac said in a statement on Thursday. It averaged 6.35% during the same period a year ago. The average rate on the 15-year fixed-rate mortgage fell to 6.38% from 6.47% last week. That compared to an average of 5.75% a year ago. The decline in mortgage rates coincides with a drop in the 10-year Treasury yield following recent data showing a moderation economic and job growth. "An environment where rates continue to hover above seven percent impacts both sellers and buyers," said Sam Khater, Freddie Mac's chief economist. "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. These elevated house prices add to the overall affordability challenges that potential buyers face in this hi
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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