Refinancing For A Lower Mortgage Rate? It Might Be Harder Than You Think [Forbes]
Federal Home Loan Mortgage Corporation (FMCC)
NASDAQ:AMEX Investor Relations:
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Source: Forbes
Refinancing For A Lower Mortgage Rate? It Might Be Harder Than You Think Mortgage refinances are surging thanks to low mortgage rates, which hit nearly three-year lows just last week. Currently sitting at 3.6% according to Freddie Mac, they’ve spawned a 180% uptick in refinance applications since just one year ago. Online mortgage lender Better.com has seen its refinance volume double in just the last month alone, and though refinances accounted for nearly 62% of all U.S. loan applications last week, there’s still more room to grow. Property data firm Black Knight estimated last week that around 9.7 million American homeowners could be eligible to refinance, cutting their rate by 0.75% or more. As Sean Hundtofte, chief economist for Better.com, explains, "There is still a lot of refinancing to do. It would take the industry more than a year to work through the backlog of in-the-money refinance candidates at the average origination volumes before this last drop in rates." Still, even w
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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