Job gains pass market expectations History: Fannie, Freddie Seized by Federal Government He sent a primer to reporters last week to challenge past Treasury and administration claims that Fannie and Freddie were insolvent and needed a "taxpayer bailout when they were seized and placed into conservatorship by the government in September of 2008."
For the week ending July 7, 30-year FRMs averaged 3.41%, just 10 basis points away from the recorded all-time historic low. The Primary Mortgage Market Survey (PMMS) conducted by Freddie Mac for the week ending July 14, showed little change as the 30-year fixed-rate mortgage held steady at 3.42%.
Freddie Mac. The federal government later created the Federal Home Loan Mortgage Corporation (FHLMC)-aka Freddie Mac-in 1970 to further increase the availability of mortgages to home buyers. Freddie, also semi-privatized, serves as competition for Fannie Mae, and allows for mortgages to be bundled together and sold as investments on the.
"Average weekly mortgage rates were little changed this week amid mixed signals on the health of the economy," said Frank Nothaft, vice president and chief economist with Freddie Mac. "The final estimate of 2011 fourth quarter growth remained unchanged at three percent, representing the strongest pace since the second quarter of 2010.
Start rates on adjustable loans also were little changed this week, Freddie Mac said in its survey released Thursday morning. Variable loans with a fixed rate for the first five years were starting at an average 3.72% and 0.6 points, compared to 3.70% a week earlier.
Mortgage rates moved higher after remaining at around the same level for about three weeks. The rise in rates was driven by continued improvement in consumer spending and partly due to optimism around a forthcoming cut in short term interest rates, which should provide support for business and investor sentiment.
Freddie Mac’s Home Possible and Fannie Mae’s Home Ready mortgage programs offers competitive pricing with interest rates and reduced private mortgage insurance premiums for home buyers. Home buyers must meet certain income limits based on the location of the subject home that is being financed.
3 Trends That Will Drive The Mortgage Market in 2018 – Freddie Mac. Freddie Mac’s economists expect that will continue next year. The refinance share of the market will decline to around 25 percent, the lowest since 1990. Refinancing has been sustained at a high level for some years by rate refinancing.