All articles tagged with #freddiemac
The US housing market faces renewed affordability pressure after Freddie Mac data show the 30-year fixed mortgage rate rising to 6.38% for a fourth straight week, driven by Iran-related geopolitical tensions and higher Treasury yields. Buyers are more cautious, home sales have slowed, and mortgage applications and contracts have declined, even as inventory widens in early 2026.
The FHFA is updating Fannie Mae and Freddie Mac rules to lower homeowners’ insurance bills by allowing Actual Cash Value (ACV) roof coverage on single-family homes and condos, simplifying the maximum per-unit deductible, and scrapping a 2024 clarification. The changes are aimed at making mortgages more affordable—especially for condo owners and rural buyers—while preserving full replacement-cost protection for the rest of the home.
Freddie Mac reports that while mortgage rates have held steady at the start of 2024, with the 30-year fixed-rate mortgage averaging 6.62%, they are expected to decline as the year progresses due to anticipated Federal Reserve rate cuts and easing inflation. The Fed's potential rate reductions could see the federal funds rate drop to 4.6%, influencing mortgage rates to settle between 5% and 6%. Despite the stable rates, homebuyers are facing challenges with low inventory and high home prices, and many are waiting for rates to drop further before entering the market. Homebuyers are advised to shop around for the best rates, and tools like online marketplaces can assist in comparing rates and getting preapproved with multiple lenders.
U.S. mortgage rates have increased for the first time since late October 2023, with the average rate for a 30-year fixed loan rising slightly to 6.62% from 6.61% the previous week, according to Freddie Mac. This marks the end of a 10-week streak of declining rates from near two-decade highs. Despite this uptick, an economist has suggested that mortgage rates are likely to decline over the course of the year.