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FEDERAL HOME LOAN MORTGAGE CORPORATION

(FMCC)
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Mortgage Rates Move Slightly

06/10/2021 | 10:01am EDT

MCLEAN, Va., June 10, 2021 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 2.96 percent.

“The economy is recovering remarkably fast and as pandemic restrictions continue to lift, economic growth will remain strong over the coming months,” said Sam Khater, Freddie Mac’s Chief Economist. “Despite the stronger economy, the housing market is experiencing a slowdown in purchase application activity due to modestly higher mortgage rates. However, it has yet to translate into a weaker home price trajectory because the shortage of inventory continues to cause pricing to remain elevated.”

News Facts

  • 30-year fixed-rate mortgage averaged 2.96 percent with an average 0.7 point for the week ending June 10, 2021, down from last week when it averaged 2.99 percent. A year ago at this time, the 30-year FRM averaged 3.21 percent.
  • 15-year fixed-rate mortgage averaged 2.23 percent with an average 0.6 point, down from last week when it averaged 2.27 percent. A year ago at this time, the 15-year FRM averaged 2.62 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.55 percent with an average 0.2 point, down from last week when it averaged 2.64 percent. A year ago at this time, the 5-year ARM averaged 3.10 percent.

The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.

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, investors and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.

MEDIA CONTACT:
Angela Waugaman
703-714-0644
Angela_Waugaman@FreddieMac.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9987502b-eef1-4967-bfa1-8e5b545d3462


Primary Logo

Primary Mortgage Market Survey®

U.S. weekly average mortgage rates as of June 10, 2021.

ę GlobeNewswire 2021
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Financials (USD)
Sales 2021 12 494 M - -
Net income 2021 8 813 M - -
Net Debt 2021 - - -
P/E ratio 2021 0,41x
Yield 2021 -
Capitalization 3 640 M 3 640 M -
Capi. / Sales 2021 0,29x
Capi. / Sales 2022 0,25x
Nbr of Employees 6 922
Free-Float 89,6%
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Mean consensus HOLD
Number of Analysts 3
Last Close Price 1,13 $
Average target price 0,76 $
Spread / Average Target -33,0%
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Managers and Directors
Michael J. DeVito Chief Executive Officer & Director
Michael Thomas Hutchins President
Christian Mark Lown Chief Financial Officer & Executive Vice President
S. Sara Mathew Non-Executive Chairman
Frank Nazzaro Chief Information Officer & Executive VP