The 30-year fixed rate mortgage topped 7% for the first time since last May, although late in the week, the 10-year Treasury peaked before reversing course.

Shares of Fannie Mae and Freddie Mac fell Monday after Keefe, Bruyette & Woods analysts downgraded the stocks to Underperform. Here's a look at the latest developments for the mortgage giants:

Fannie Mae and Freddie Mac's stock were downgraded to "underperform" by KBW as they are currently priced above its expectations.

With sticky inflation and rising bond yields, mortgage rates continue to move higher. The Mortgage Bankers Association, whose readings are often slightly h

MCLEAN, Va., Jan. 27, 2025 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today posted to its website its Monthly Volume Summary for December 2024, which provides information on Freddie Mac’s mortgage-related portfolios, securities issuance, risk management, delinquencies, debt activities and other investments.

Mortgage rates topped 7% this week, a key psychological threshold, in a sign of the US housing market’s unrelenting affordability challenges.

The latest jump threatens to sideline more buyers and sellers. Source: Freddie Mac By The New York Times By Danielle Kaye The average rate on 30-year fixed-rate mortgages surpassed 7 percent for ...

The average rate on a standard, 30-year fixed mortgage was 7.04% in the week ending January 16, according to a survey of lenders released Thursday by Freddie Mac. It’s the fifth consecutive ...

AM Durable Goods Durable Goods Orders measure the change in the total value of new orders for long-lasting manufactured goods, including transportation items. Durable goods orders are expected to rise 0.

Many economists have felt relief over continued GDP growth. But ongoing data releases suggest that the foundation of the economy — consumer spending — isn’t sustainable.

Annual inflation has risen again for the third straight month, in a troubling sign for mortgage rates that are already creeping close to 7%. Overall prices rose 2.9% in December 2024 from a year earlier, higher than the 2.7% pace recorded in November, according to the Labor Department's consumer price index (CPI) data released Wednesday.

“Mortgage rates ticked up for the fifth consecutive week and crossed 7% for the first time since May of 2024,” says Sam Khater, Freddie Mac’s chief economist. “The underlying strength of the economy is contributing to this increase in rates."