Average rate on a 30-year mortgage in the U.S. ticks up to 6.12%, first increase in 7 weeks [Yahoo! Finance]
Federal Home Loan Mortgage Corporation (FMCC)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance
Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners seeking to refinance their home loan to a lower rate, increased again this week. The average rate rose to 5.25% from 5.16% last week. A year ago, it averaged 6.78%, Freddie Mac said. Mortgage rates are influenced by several factors, including how the bond market reacts to the Federal Reserve's interest rate policy decisions. That can move the trajectory of the 10-year Treasury yield, which lenders use as a guide to pricing home loans. The yield on the 10-year Treasury was at 3.82% Thursday, up from 3.78% last week. The average rate on a 30-year mortgage is down from 7.22% in May, its 2024 peak. Rates have been mostly declining since July in anticipation of last month's move by the Federal Reserve to cut its main interest rate for the first time in more than four years. Fed officials also signaled they expect further cuts this year and in 2025 and 2026. The rate cuts should, over time, lead to lower borrowi
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News
- Mortgage and refinance rates today, October 4, 2024: Rates fall 1.37% in a year [Yahoo! Finance]Yahoo! Finance
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- Mortgage rates inch higher [Yahoo! Finance]Yahoo! Finance
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- Fall in mortgage rates stall, but backdrop for homebuyers improving [Seeking Alpha]Seeking Alpha
FMCC
Sec Filings
- 10/1/24 - Form ABS-15G
- 9/24/24 - Form ABS-15G
- 9/17/24 - Form 3
- FMCC's page on the SEC website