News about Freddie Mac

According to Freddie Mac, the average 30-year fixed mortgage rate fell to 7.32% from 7.40% last week, its first decline since late August, though it was 6.19% a year ago. The 15-year fixed rate eased to 6.68% from 6.71%. Rates have climbed since late February, when the U.S. war with Iran began and pushed up oil prices and inflation, and the 10-year Treasury yield, which guides mortgage pricing, hit its highest level since 2002 before easing in recent weeks. The rise has added roughly $355 a month to the cost of a $400,000 loan and has helped keep U.S. home sales stalled this year. Fannie Mae projects the 30-year rate will average 7.4% in the final quarter of 2026 and 7.5% in 2027.

Freddie Mac said the average 30-year fixed mortgage rate eased to 7.32% this week from 7.40% last week, its first pullback since late August, though it remains well above 6.19% a year ago. The 15-year fixed rate dipped to 6.68% from 6.71%, compared with 5.44% a year earlier. Rates have climbed since late February, when the U.S. war with Iran began and pushed up oil prices and inflation, and they generally track the 10-year Treasury yield, which has eased in recent weeks after reaching its highest level since 2002. The rise has added roughly $355 a month to payments on a $400,000 loan, and Fannie Mae projects the 30-year rate will average 7.4% in the fourth quarter and 7.5% in 2027.

Freddie Mac said the benchmark 30-year fixed mortgage fell to 7.32% from 7.40% last week, the first weekly decline since late August, though it was 6.19% a year ago. The 15-year fixed rate eased to 6.68% from 6.71%. Rates have climbed since late February, when the U.S. war with Iran began and pushed up oil prices and inflation, and the 10-year Treasury yield surged above 5.30% earlier this month before easing to around 5% on Thursday. The rise has added about $355 a month to the cost of a $400,000 loan and has stalled U.S. home sales. Fannie Mae projects the 30-year rate will average 7.4% in the fourth quarter and 7.5% in 2027.

Freddie Mac said the average 30-year fixed mortgage rate fell to 7.32% from 7.40% last week, the first weekly decline since late August, though it remains above 6.19% a year ago. The 15-year fixed rate, often chosen by borrowers refinancing, eased to 6.68% from 6.71%. Rates have climbed since late February, when the U.S. war with Iran began and pushed oil prices and inflation higher, and they generally track the 10-year Treasury yield, which has eased in recent weeks after hitting its highest level since 2002. The rise has added about $355 a month to the cost of a $400,000 home loan, and home sales remain stalled. Fannie Mae forecasts the 30-year rate will average 7.4% in the fourth quarter of 2026 and 7.5% in 2027.

Michael Burry warned that stocks at new highs could be a “bull trap,” but is holding back on adding shorts; about 10% of his portfolio is in puts, with most of the rest in longs and LEAPS. He has moved his Fannie Mae and Freddie Mac common shares into junior preferred stock, betting that a government resolution of Treasury’s roughly $388 billion senior preferred liquidation preference could lift returns four to five times from current levels. He expects a favorable resolution within two years, though he said the delay made him “antsy” given a deteriorating multifamily housing situation. FNMA and FMCC have fallen for seven straight weeks, down 68% and 69% year-to-date, respectively.