U.S. mortgage rates approach 7% in ominous sign for housing market [Fortune]
Federal Home Loan Mortgage Corporation (FMCC)
NASDAQ:AMEX Investor Relations:
freddiemac.com/investors
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Source: Fortune
The average on a 30-year mortgage rose to 6.91% as of Jan. 2, up from 6.85% a week earlier, according to Freddie Mac data released Thursday. A measure from the Mortgage Bankers Association advanced 8 basis points to 6.97% in the period ended Dec. 27, a nearly six-month high. High borrowing costs are weighing on affordability. They've also pressured demand recently, with the MBA's index of home-purchase applications sliding nearly 7% to the lowest level since mid-November. While the figures are adjusted for seasonal effects, they are still prone to wide swings around the year-end holidays. “It's not exactly a good way to start the new year,” said Odeta Kushi, deputy chief economist at First American Financial Corp. “Industry experts are coming to the consensus that 2025 is another year of higher for longer for the housing market. It's not great news.” Mortgage rates tend to track Treasury yields, which continued to climb in late December after Federal Reserve policymakers projec
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FMCC
Analyst Actions
- 11/20/24 - Keefe, Bruyette & Woods
FMCC
Sec Filings
- 1/2/25 - Form ABS-15G
- 12/26/24 - Form 8-K
- 11/25/24 - Form ABS-15G
- FMCC's page on the SEC website