U.S. mortgage rates sink to a record low on COVID-19 fears [Business News Network (BNN) Energy & Resources (Canada)]
Federal Home Loan Mortgage Corporation (FMCC)
NASDAQ:AMEX Investor Relations:
freddiemac.com/investors
Company Research
Source: Business News Network
U.S. mortgage rates sink to a record low on COVID-19 fears Rates for 30-year U.S. mortgages tumbled to the lowest on record as fears of a blow to the economy from the coronavirus sent investors rushing to the safety of Treasuries. The average rate was 3.29 per cent, down from 3.45 per cent last week and the lowest in 49 years of data-keeping, Freddie Mac said in a statement Thursday. The previous low, in November 2012, was 3.31 per cent. Plunging borrowing costs have set the stage for a spring housing boom and are giving homeowners a fresh opportunity to refinance into cheaper loans. Lenders are staffing up to meet the demand. Quicken Loans Inc., the nation’s largest mortgage lender, said Monday was the busiest day for mortgage applications in the company’s 35-year history. The spread of the virus has roiled financial markets, hammering stocks and pushing yields for the Treasuries that guide mortgage costs to the lowest on record. The Federal Reserve on Tuesday slashed its benchmark l
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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