The US housing market has had a tough year. Here's what could save it [CNN]
Federal Home Loan Mortgage Corporation (FMCC)
NASDAQ:AMEX Investor Relations:
freddiemac.com/investors
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Source: CNN
The Federal Reserve began to slash interest rates in September, but mortgage rates have actually risen since then. The average rate on a standard 30-year fixed mortgage was 6.72% this week, Freddie Mac said Thursday, up from last week's 6.6%. Mortgage rates are expected to stay stuck above 6% over the next two years. Instead, the housing market's saving graces could come down to two things: continued job growth, and more homeowners finally giving up their locked-in low mortgage rates and putting their homes up for sale. “Jobs and inventory will drive home sales,” Lawrence Yun, chief economist at the National Association of Realtors (NAR), said in an analyst note Wednesday after the Fed delivered its third consecutive interest rate cut. On a call with reporters Thursday, Yun said that “the lock-in effect is becoming less strong,” which could boost housing inventory, or how many homes are on the market. The job market's important role The job market's health is always cruci
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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
- 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
- The Fed is cutting, but mortgage rates keep… [USA TODAY]USA TODAY
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