Freddie Mac reports stable 30-year mortgage rate at 6.65%

MCLEAN, Va. - Freddie Mac (OTCQB: FMCC), a prominent player in the Financial Services industry with a market capitalization of $14.75 billion, announced Thursday that the 30-year fixed-rate mortgage (FRM) is holding steady at an average of 6.65%, demonstrating minimal change from the previous week’s figure of 6.63%. According to InvestingPro data, the company has demonstrated remarkable performance with a nearly 300% return over the past year. According to Sam Khater, Freddie Mac’s Chief Economist, the consistency in mortgage rates, despite market volatility, is a positive sign for the spring homebuying season. Khater noted that purchase applications have seen a 5% increase from the same period last year, suggesting that the blend of slightly lower mortgage rates and a better supply of homes is encouraging for prospective homebuyers.

The survey also revealed that the 15-year FRM averaged 5.80%, a small rise from last week’s 5.79%. Comparatively, a year ago, the 15-year FRM averaged 6.16%. The Primary Mortgage Market Survey® (PMMS®) focuses on tracking conventional, conforming home purchase loans for borrowers with strong credit histories and at least a 20% down payment. Investors can access comprehensive analysis and 10+ additional ProTips about Freddie Mac through InvestingPro’s detailed research reports.

Freddie Mac, established in 1970, has been instrumental in promoting liquidity, stability, and affordability in the U.S. housing market across various economic conditions. With a current ratio of 131.78, indicating strong liquidity, the organization has a longstanding mission to facilitate homeownership for American families, having assisted tens of millions in buying, renting, or maintaining their homes.

The report is based on a press release statement and provides a snapshot of the national average mortgage rates as of March 13, 2025. For more detailed information, Freddie Mac encourages visiting their website and exploring their resources for consumers.

In other recent news, Freddie Mac reported robust financial results for the fourth quarter of 2024, with net income reaching $11.9 billion, a 13% increase from the previous year. The company’s revenue also saw a significant rise, totaling $23.9 billion, reflecting a 13% year-over-year growth. Freddie Mac’s mortgage portfolio expanded to $3.6 trillion, a 3% increase, with a notable focus on affordable housing, as 53% of home loans were directed towards low and moderate-income families. Additionally, the company packaged $411 billion in mortgage-backed securities, marking an 18% increase from the previous year.

In other developments, Freddie Mac announced a decline in the 30-year fixed-rate mortgage, averaging 6.63%, the most substantial drop since mid-September. This decrease is expected to enhance purchasing power for homebuyers and offer refinancing opportunities. The 15-year fixed-rate mortgage also saw a decline, averaging 5.79%. Furthermore, Freddie Mac is set to auction approximately $290 million in non-performing loans to reduce less-liquid assets from its portfolio. The auction will be structured through four pools, with bids due by March 27, 2025, for the Standard Pool Offerings and April 10, 2025, for the Extended Timeline Pool Offering.

Freddie Mac has a history of selling non-performing loans and securitizing re-performing loans, having sold $10.4 billion of non-performing loans since 2011. BofA Securities, Inc. and First Financial Network, Inc. are advising on the transaction. These recent developments highlight Freddie Mac’s ongoing efforts to manage its portfolio effectively and support the housing market.

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