|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||4.2500 - 4.4500|
|52 Week Range||3.6500 - 9.9500|
|Beta (5Y Monthly)||2.53|
|PE Ratio (TTM)||386.36|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Jun 12, 2008|
|1y Target Est||N/A|
MCLEAN, Va., Feb. 25, 2021 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today posted to its website its Monthly Volume Summary for January 2021, which provides information on Freddie Mac’s mortgage-related portfolios, securities issuance, risk management, delinquencies, debt activities, and other investments. Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders, and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac, and Freddie Mac’s blog FreddieMac.com/blog. MEDIA CONTACT: Fred Solomon703-903-3861Frederick_Solomon@freddiemac.com INVESTOR CONTACT: Laurie Garthune571-382-4732
The FHFA also amended its separate payment deferral option for homeowners so they can now miss up to 18 months of payments.
(Bloomberg) -- Mortgage rates in the U.S. rose to the highest level in six months, with higher borrowing costs threatening to crimp the pandemic housing rally.The average for a 30-year, fixed loan was 2.97%, up from 2.81% last week and the highest since August, Freddie Mac data showed Thursday. Rates have climbed from the record low of 2.65%, reached in early January.The pandemic housing boom was built on historically low mortgage rates. Now, vaccines are raising optimism about an economic recovery and Treasury yields are ticking higher.A rapid jump in borrowing costs threatens the rally. Home prices are soaring across the nation, especially in suburbs where buyers are fighting over an increasingly scarce resource: listings.“There’s not enough for sale,” said Greg McBride, chief financial analyst at Bankrate.com, which tracks mortgage rates. “Maybe that means downshifting from red hot to merely sizzling.”Investors are increasingly optimistic that if life gets back to normal, jobs will return to the economy. At the same time, the yield on 10-year Treasuries, a benchmark for mortgages, reached its highest level in about a year this week.The rise in rates is bad news for the mortgage business, which had been booming like never before. The industry posted record profits in 2020, with a flood of Americans seeking loans to buy houses and looking to refinance debt.With rates climbing, mortgage applications dipped to a nine-month low last week, while pending home sales in January fell to a six-month low.“When combined with demand-fueled rising home prices and low inventory, these rising rates limit how competitive a potential homebuyer can be and how much house they are able to purchase,” Sam Khater, chief economist at Freddie Mac, said in a statement.(Updates with quote in fifth paragraph and details on pending home sales.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.