Freddie Mac

Houston-area home sales experienced another double-digit gain in February as buyers came out in droves to take advantage of low mortgage rates.

Paradoxically, mortgage rates actually increased this past week, even as the 10-year Treasury yield plumbed new depths, likely because lenders are too busy to handle the influx of applications.

Fannie Mae and Freddie Mac coming out of conservatorship and transitioning into public utilities would be the ideal for small mortgage lenders, according to trade-organization representative Robert Zimmer.

Capacity constraints among mortgage lenders are leading to wider spreads between mortgages and the 10-year Treasury yield even after it remained below 1% for an extended period this week.

Mortgage rates hit their lowest point since Freddie Mac began tracking this data in 1971, as the 10-year Treasury yield fell below 1% after the Federal Open Market Committee's surprise short-term rate cut.

Any impact from the coronavirus outbreak on commercial and multifamily loan delinquencies won't be known for some time, the Mortgage Bankers Association said.

Reduced construction and domestic migration in search of better job markets caused housing supply deficits in over half of the U.S., according to Freddie Mac.

The Federal Housing Finance Agency authorized the government-sponsored enterprises to contribute $502.2 million to two funds that help preserve and build affordable housing.

Mortgage rates slipped this week, as the stock market sell-off resulted in investors moving into bonds which drove the 10-year Treasury yield down, according to Freddie Mac.

Fannie Mae and Freddie Mac are expected to retain “limited and tailored government support” after they are released from U.S. control, Treasury Secretary Steven Mnuchin said in a letter to lawmakers.

Freddie Mac elevated Corley to executive vice president and head of its single-family business, putting her permanently in the role she occupied since last October.

Even with the small increase in mortgage rates this past week, the home purchase market stayed active and should remain so for the peak buying season.

Freddie Mac saw a decline in net profit in 2019 due to decreased interest rate income, lower amortization revenue and risk-reducing investment costs, but its consecutive-quarter results improved.

Fannie Mae identified the adoption of hedge accounting and regular issuance of multifamily Connecticut Avenue Securities deals as among strategies it could continue to pursue while navigating regulatory uncertainties and change.

Five MBS pools of predominantly non-QM mortgages have been launched into the market by originators and loan aggregators, according to ratings agency presale reports published since Monday.

Mortgage rates ticked up slightly, marking the first increase in four weeks, but they remain at levels which encourage borrowers to refinance, according to Freddie Mac.

Whether a deal involves a minority stake or a whole company carve-out, buyers and sellers should be aware of five issues that may pose transaction risk in the mortgage market.

The unsuccessful scheme has become the focus of a legal battle involving two former Federal Home Loan Bank of San Francisco employees against that government-sponsored enterprise, which fired them in 2018.

The administration proposed to end the housing trust funds now financed by Fannie Mae and Freddie Mac, and to subject numerous agencies to the congressional appropriations process, among other things.

The government-sponsored enterprises’ plan to cease accepting loans pegged to the London interbank offered rate a year ahead of its scheduled expiration is expected to hasten action in securitized markets.