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MarketScreener Homepage  >  Equities  >  OTC Bulletin Board - Other OTC  >  Freddie Mac    FMCC

FREDDIE MAC

(FMCC)
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Delayed Quote. Delayed OTC Bulletin Board - Other OTC - 10/26 03:59:46 pm
1.85 USD   -4.64%
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Freddie Mac : Mortgage Rates Generally Hold Steady

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09/17/2020 | 11:01am EDT

MCLEAN, Va., Sept. 17, 2020 (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 2.87 percent.

Primary Mortgage Market Survey®
U.S. weekly average mortgage rates as of 09/17/2020


“Despite the recession, the very low mortgage environment has spurred many first-time homebuyers to jump into the real estate market,” said Sam Khater, Freddie Mac’s Chief Economist. “In August, first-time homebuyer activity rose 19 percent from July to the highest monthly level ever for Freddie Mac. The first-time homebuyer driven rebound in the housing market has come at a critical time for the economy.”

News Facts

  • 30-year fixed-rate mortgage averaged 2.87 percent with an average 0.8 point for the week ending September 17, 2020, up slightly from last week when it averaged 2.86 percent. A year ago at this time, the 30-year FRM averaged 3.73 percent.
  • 15-year fixed-rate mortgage averaged 2.35 percent with an average 0.8 point, down from last week when it averaged 2.37 percent. A year ago at this time, the 15-year FRM averaged 3.21 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.96 percent with an average 0.3 point, down from last week when it averaged 3.11 percent.  A year ago at this time, the 5-year ARM averaged 3.49 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/9fbb54bc-2bfb-4652-a4aa-8085b944e31f


Freddie Mac logo.jpg

Source: Freddie Mac

2020 GlobeNewswire, Inc., source Press Releases


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Financials (USD)
Sales 2020 12 111 M - -
Net income 2020 -370 M - -
Net Debt 2020 - - -
P/E ratio 2020 -16,8x
Yield 2020 -
Capitalization 5 959 M 5 959 M -
Capi. / Sales 2020 0,49x
Capi. / Sales 2021 0,50x
Nbr of Employees 6 892
Free-Float 89,6%
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Technical analysis trends FREDDIE MAC
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 4
Average target price 3,81 $
Last Close Price 1,85 $
Spread / Highest target 278%
Spread / Average Target 106%
Spread / Lowest Target 8,11%
EPS Revisions
Managers
NameTitle
David M. Brickman President, Chief Executive Officer & Director
Sara Mathew Non-Executive Chairman
Christian Mark Lown Chief Financial Officer & Executive Vice President
Frank Nazzaro Chief Information Officer & Executive VP
Saiyid T. Naqvi Independent Director
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