Mortgage rates rise after home sales jump in October [FOX Business Network]
Federal Home Loan Mortgage Corporation (FMCC)
NASDAQ:AMEX Investor Relations:
freddiemac.com/investors
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Source: FOX Business Network
Mortgage rates climbed closer to 7% this week while sales of existing homes saw a revival from a dip in rates two months ago. Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage rose to 6.84% from last week's reading of 6.78%. The average rate on a 30-year loan was 7.29% a year ago. Meanwhile, the National Association of Realtors reported Thursday that existing home sales jumped 3.4% in October from the month before to 3.96 million, lifting off a 14-year low in September. "Home sales surged in October because mortgage rates plunged below 6.25% in September," said Holden Lewis, home and mortgage expert at NerdWallet. "When rates dropped, buyers acted quickly – making successful offers in September and closing in October." Many would-be buyers and sellers are holding out to see if rates fall further. Currently, about 80% of mortgage holders have a rate below 5%, according to a Zillow survey
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- 3 Maine counties now have median home price over $500,000 [Yahoo! Finance]Yahoo! Finance
- Average rate on a 30-year mortgage in the US rises to highest level since July [Yahoo! Finance Canada]Yahoo! Finance Canada
- Mortgage rates rise after home sales jump in October [Yahoo! Finance]Yahoo! Finance
- Existing homes sales jump 3.4% in October, first increase in 3 years [Yahoo! Finance]Yahoo! Finance
- Miami-Dade $1M & Up Existing Condo Sales Continue to Climb; Single-Family Home Sales on Target to Top Last Year's Total [Yahoo! Finance]Yahoo! Finance
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