Average rate on a 30-year mortgage in the US rises to highest level since July [Yahoo! Finance Canada]
Federal Home Loan Mortgage Corporation (FMCC)
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Source: Yahoo! Finance Canada
The rate rose to 6.84% from 6.78% last week, mortgage buyer Freddie Mac said Thursday. That's still down from a year ago, when the rate averaged 7.29%. Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners seeking to refinance their home loan to a lower rate, also ticked up this week. The average rate rose to 6.02% from 5.99% last week. A year ago, it averaged 6.67%, Freddie Mac said. When mortgage rates increase they can add hundreds of dollars a month in costs for borrowers, reducing homebuyers' purchasing power at a time when home prices remain near all-time highs, even though U.S. home sales are on track for their worst year since 1995. The average rate on a 30-year mortgage fell to a two-year low of 6.08% in late September but it's been mostly rising since then, echoing moves in the 10-year Treasury yield, which lenders use as a guide to pricing home loans. The yield, which has mostly hovered around 4.4% since last week and was below 3.70% in September
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FMCC
Analyst Actions
- 11/20/24 - Keefe, Bruyette & Woods
FMCC
Sec Filings
- 11/21/24 - Form ABS-15G
- 11/6/24 - Form ABS-15G/A
- 11/6/24 - Form ABS-15G/A
- FMCC's page on the SEC website