Dallas, Texas 09/23/2013 (Financialstrend) – Federal Home Loan Mortgage Corp (OTCBB:FMCC), generally termed as ‘Freddie Mac’ purses business in the residential mortgage market in the United States and the global securities market. The corporation largely operates in the single family guarantee segment, multifamily segment and investments segment.
The stock surged 7.50% during its last trade on Friday, September 20, 2013 and traded in the range of $1.20 and $1.33 before closing at $1.29. The stock traded with huge volumes of 13.43 million shares, almost 2.5 times its average trading volume of 5.41 million shares. The 52 week range remains between $0.24 and $5. The stock has delivered more than 375% return year to date. During the last week (Sep 16 – Sep 20) the stock gained 18.35%. Federal Home Loan Mortgage Corp (OTCBB:FMCC) has market capitalization of $838.55 million.
On Thursday, September 19, 2013 Federal Home Loan Mortgage Corp (OTCBB:FMCC) announced that it auctioned its 0.875% three year USD Reference Notes security. The securities worth $500 million will mature on October 14, 2016. After the reopening, conducted through an Internet-based auction, the outstanding size of the Reference Notes security will be $3.5 billion. The issue, listed on the Euro MTF market of the LSE (Luxembourg Stock Exchange) is going to settle today on Monday, September 23, 2013.
Frank Nothaft, Chief Economist at Freddie Mac (OTCBB:FMCC), on Thursday, September 19 mentioned about slower pace of monthly retail sales growth during August 2013 as compared to July 2013 alongside disappointing factory output data. He also expressed concerns over declining consumer sentiment for September, consecutively for second straight month, marking lowest numbers since April 2013.
Freddie Mac (OTCBB:FMCC) also cited the fall in average mortgage rates during the week along with certain below expectation economic data as the factor for decision by the Fed to keep its. Bond buying program unchanged.
The 30-year and 15-year fixed rate mortgages, for the week ended on Thursday, September 19, averaged at 4.5% (against 4.57% a week before) and 3.54% (against 3.59%) respectively