Mortgage Rates Fall for a Second Week With All Eyes on the Fed [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 6.95%, down from 6.99% last week, Freddie Mac said in a statement Thursday. A key measure of consumer prices cooled in May to the slowest pace in more than three years, data released this week showed. Yet housing inflation remains high, putting pressure on renters and buyers and casting doubt over the prospect of imminent Fed rate cuts. “From a higher-level perspective, as the housing market goes, so does the country,” said Ralph McLaughlin, senior economist at Realtor.com. “Since shelter makes up a large portion of our primary measures of inflation, a slowdown in the growth of both prices and rents may be what the broader economy needs to get the Fed to cut rates.” The central bank left its key interest rate unchanged Wednesday and scaled back its forecast for this year to just one reduction instead of three. Fed Chair Jerome Powell acknowledged “modest” improvement toward the goal of 2% inflation but reiterated that policymakers would
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FMCC
Sec Filings
- 6/21/24 - Form 25
- 6/11/24 - Form 8-K
- 5/29/24 - Form ABS-15G
- FMCC's page on the SEC website