Mortgage rates ticked up this week despite latest Fed cut [Yahoo! Finance Canada]
Federal Home Loan Mortgage Corporation (FMCC)
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Source: Yahoo! Finance Canada
Mortgage rates rose this week in the run-up to the Federal Reserve's latest interest rate cut. The average 30-year mortgage rate was 6.72% in the week through Wednesday, compared with 6.6% a week earlier, according to Freddie Mac data. The average 15-year mortgage rate was 5.92%, from 5.84%. Much of Freddie Mac's survey was conducted before the Federal Reserve trimmed benchmark interest rates by 25 basis points on Wednesday and signaled that it may only cut rates twice in the next year. The dimmer prospects for additional cuts in 2025 sent Treasury yields and mortgage rates higher. As of Wednesday afternoon, the average 30-year mortgage rate was 7.13%, according to Mortgage News Daily “This week, mortgage rates crept up to a similar average as this time in 2023,” said Sam Khater, Freddie Mac's chief economist. “Homebuyers are slowly digesting these higher rates and are gradually willing to move forward with buying a home, resulting in additional purchase activity.” The Fed
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News
- The Fed cut interest rates, but mortgage costs jumped. Here's why [CNBC]CNBC
- The US housing market has had a tough year. Here's what could save it [Yahoo! Finance]Yahoo! Finance
- The US housing market has had a tough year. Here's what could save it [CNN]CNN
- Is Wall Street Really Buying 44% Of Homes? Report Says Not Even Close [Yahoo! Finance]Yahoo! Finance
- The US housing market has had a tough year. Here's what could save it [CNN]CNN
FMCC
Analyst Actions
- 11/20/24 - Keefe, Bruyette & Woods
FMCC
Sec Filings
- 11/25/24 - Form ABS-15G
- 11/21/24 - Form ABS-15G
- 11/6/24 - Form ABS-15G/A
- FMCC's page on the SEC website