US Mortgage Rates Drop, Giving House Hunters More Buying Power [BNN Bloomberg (Canada)]
Federal Home Loan Mortgage Corporation (FMCC)
NASDAQ:AMEX Investor Relations:
freddiemac.com/investors
Company Research
Source: BNN Bloomberg
The average for a 30-year, fixed loan was 6.79%, down from 6.87% last week, Freddie Mac said in a statement Thursday. Borrowing costs haven't breached 7% since early December, but they're still about double where they were in early 2022, before the Federal Reserve started aggressively raising its benchmark rate. The central bank has signaled its first rate reduction is likely to come this year, but the timing remains dependent on inflation and jobs data. Read More: Powell Juices Bond Market Bet on Inflation With Tilt to Jobs Elevated mortgage rates along with rising prices have cut into purchasing power for house hunters, but more owners have been listing their properties for sale, offering hope that the market will eventually gain steady momentum. Contracts to buy previously owned homes climbed 1.6% in February from the previous month on a nationwide basis, but fell in the high-cost areas of the Northeast and West, the National Association of Realtors reported Thursday. Last
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FMCC
News
- Champaign County had lower home sales, higher median sale price: realtor group [Yahoo! Finance]Yahoo! Finance
- Mortgage rates are still above 7% and home prices remain high [FOX Business Network]FOX Business Network
- How To Survive Financially in Your First Year of Homeownership [Yahoo! Finance]Yahoo! Finance
- Champaign County average home prices keep growing as inventory shrinks [Yahoo! Finance]Yahoo! Finance
- Mortgage Interest Rates Today, April 26, 2024 | Are Homebuyers Adjusting to Higher Rates? [Business Insider]Business Insider
FMCC
Analyst Actions
- 2/26/24 - Keefe, Bruyette & Woods
FMCC
Sec Filings
- 4/23/24 - Form ABS-15G
- 3/28/24 - Form ABS-15G
- 3/28/24 - Form ABS-15G/A
- FMCC's page on the SEC website