The Mortgage Bankers Association (MBA) shared a proposal that it says would bring private capital back into the mortgage market while decreasing costs for taxpayers and borrowers.
Read More »Freddie Mac Points to New Sales as ‘Juice’ of Recovery
The juice that will fuel the economic recovery is housing, or more specifically, new home sales, Freddie Mac stated in its economic and housing market outlook report for May.
Read More »Mortgage Rates Climb for Second Week
According to Freddie Mac's Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 3.51 percent (0.7 point) for the week ending May 16, a significant climb from last week.
Read More »Rule Allows Financial Assets to be Used as Qualifying Income
Freddie Mac is hoping to spread information about a rule that allows people to leverage financial assets such as retirement accounts as qualifying income when applying for mortgage loans. While the rule has been in effect since spring 2011, "word has apparently been slow to spread judging by the calls [the company fields] from inquiring borrowers and housing professionals," according to two executives posting on Freddie Mac's Executive Perspectives Blog.
Read More »April Job Growth Lifts Mortgage Rates
After spending the last month approaching record lows, fixed mortgage rates reversed the trend this week. According to Freddie Mac's Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 3.42 percent (0.7 point) for the week ending May 9, up from last week, when it averaged 3.35 percent. Last year at this time, the 30-year FRM averaged 3.83 percent. According to Frank Nothaft, VP and chief economist for Freddie Mac, the rise in fixed rates this week was a reaction to April's better than expected employment report.
Read More »Freddie Mac Reports $4.6B Profit in Q1
First-quarter net income at Freddie Mac was $4.6 billion, barely above the $4.5 billion recorded in Q4 2012 but well above the $577 million in last year's first quarter.
Read More »Mortgage Rates Continue to Attract HARP Activity in February
The Home Affordable Refinance Program (HARP) continued to bolster refinance numbers in February, according to a refinance report from the Federal Housing Finance Agency (FHFA). Fannie Mae and Freddie Mac reported 97,738 HARP refinances throughout the month, bringing the total number of HARP refinances (from the program's inception) to approximately 2.3 million. FHFA also reported HARP refinances accounted for 21 percent of total refinance volume in February.
Read More »FHFA: Government Guarantee Critical to GSE Multifamily Business
Both GSEs suggest without a government guarantee, even a mild downturn could impact their ability to operate and support affordable housing programs.
Read More »Mortgage Rates Approach Record Lows
Rates fell all around in Freddie Mac's Primary Mortgage Market Survey for the week ending May 2.
Read More »Freddie Mac Introduces Loan Quality Advisor Tool
Freddie Mac announced the launch of Loan Quality Advisor, a new online loan tool designed to give lenders an automated way to identify credit, data, and purchase eligibility issues.
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