Mortgage Market Trends - US mortgage rates fell for a fourth consecutive week, approaching 6% [1] - Economic uncertainty is keeping potential homebuyers out of the market [1]

Core Insights - The average rate on a 30-year U.S. mortgage has decreased for the fourth consecutive week, reaching its lowest level in over a year, which enhances homebuyers' purchasing power and benefits homeowners looking to refinance [1] - The average long-term mortgage rate fell to 6.17% from 6.19% last week, down from 6.72% a year ago, with the last lower rate recorded on October 3, 2024, at 6.12% [1] - The average rate on 15-year fixed-rate mortgages also declined to 5.41% from 5.44% last week, compared to 5.99% a year ago [2] Influencing Factors - Mortgage rates are affected by various factors, including the Federal Reserve's interest rate policies and bond market investors' expectations regarding the economy and inflation [3] - These rates typically align with the trajectory of the 10-year Treasury yield, which serves as a benchmark for lenders in pricing home loans [3]

MCLEAN, Va., Oct. 30, 2025 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.17%. “Mortgage rates decreased for the fourth consecutive week. The last few months have brought lower rates and homebuyers are increasingly entering the market,” said Sam Khater, Freddie Mac’s Chief Economist. News Facts The 30-year FRM averaged 6.17% as of October 30, 2025, down from last week when it av ...

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Financial Data and Key Metrics Changes - The company generated approximately $300 million in earnings for shareholders, achieving an 18% return on equity (ROE) [4] - GAAP net income was reported at $193.7 million, or $0.35 per diluted share, with an 11% ROE [14] - Earnings available for distribution (EAD) was $297 million, or $0.54 per diluted share, marking the 24th consecutive quarter where EAD exceeded dividends paid [14] - The book value at the end of the quarter was $12.83, totaling $7.1 billion [14] - Cash and liquidity on the balance sheet stood at $2.2 billion [14] Business Line Data and Key Metrics Changes - Genesis Capital originated $1.2 billion in loans during the quarter, a 60% increase year over year [16] - The mortgage company, Newrez, reported a pre-tax income of approximately $295 million, up 7% quarter over quarter and 20% year over year, with a 20% ROE [33] - Direct origination production for Newrez increased by 32% year over year [34] - The servicing business generated $260 million in pre-tax income, an 11% increase year over year [36] Market Data and Key Metrics Changes - The company ended the quarter with a balance sheet of $47 billion, with Sculptor managing $37 billion in assets under management (AUM), Crestline with $18 billion, and Paramount with a $7 billion portfolio [10] - The demand for office space in New York is over 90% leased, while San Francisco is in the low 70% range, indicating a recovery in demand [8][28] Company Strategy and Development Direction - The company announced two acquisitions: Crestline, a credit manager, and Paramount, a Class A office REIT, to expand its product offerings without raising equity in capital markets [5][7] - The focus remains on performance rather than assets under management (AUM), aiming to provide fewer managers with more products to limited partners (LPs) [6] - The company is exploring opportunities in the energy space and plans to close its first Evergreen ABF fund on a leading wealth management platform [23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position, highlighting strong earnings and the potential for growth through acquisitions and product offerings [10][90] - The company aims to drive more fee-related earnings (FRE) to enhance its valuation and is focused on growing its asset management business [42][44] - Management acknowledged the competitive landscape but emphasized their disciplined approach to underwriting and servicing, which differentiates them from peers [66] Other Important Information - The company is now involved in the insurance and reinsurance business, which it intends to grow over time [25] - The average rent for the Paramount portfolio is approximately $85 per foot, with significant potential for rent increases [8] Q&A Session Summary Question: Update on broader strategic vision and timelines - Management believes the company is fundamentally attractive from a value standpoint and is focused on growing asset management business to drive revaluation [41][42] Question: Update on third-party capital for Paramount transaction - The company expects to raise approximately $950 million to $1 billion from third parties, with $300 million to $500 million from Rithm [45][46] Question: Options for growing Rithm Capital - Management is exploring direct lending options and may consider share buybacks if growth does not materialize [55][56] Question: Discussion on Ginnie Mae streamlined refinances - These loans are cheaper to produce, impacting the gain on sale margin [51][54] Question: Share buybacks as a tool for valuation - Management indicated that the focus will be on continued growth rather than share buybacks, especially given the recent acquisitions [80] Question: Fundraising outlook for Sculptor - Management is optimistic about sustaining the fundraising pace into 2026, with significant investments planned in capital formation [82][84]

Mortgage Rate Outlook - Mortgage Bankers Association forecasts mortgage rates to remain above 6% through 2028 [1] - Expects the Federal Reserve to cut rates three to four times in the next six months [3] - Rising term premiums and concerns about debt and deficit will push up 10-year Treasury yields, impacting mortgage rates [4] - Mortgage rates are closely tied to the longer end of the yield curve, specifically 10-year Treasuries [4] Housing Market Analysis - 2023 was the low point for the housing and mortgage market [6] - Home sales are expected to increase by about 5% in 2026 [7] - Existing inventory has increased by approximately 30% compared to last year [11] - Builders are offering buy-downs, potentially permanent, to move new construction inventory, which is at nine months of supply [13][14] Buyer and Seller Dynamics - First-time buyers have acclimated to the 6% to 6.5% rate range [10] - Move-up buyers with lower locked-in rates (e g, 3%) are reluctant to give them up [10] - Increased inventory benefits buyers with more options, but challenges sellers as it takes longer to sell and home prices have flattened [8]

Core Viewpoint - Fannie Mae's third quarter 2025 financial results are being discussed, highlighting expectations related to housing market conditions and the company's future performance [2][3]. Group 1: Financial Performance - The webcast is focused on Fannie Mae's financial results for the third quarter of 2025 [2]. - The company emphasizes the importance of understanding the impact of housing market and economic conditions on its financial performance [2]. Group 2: Forward-Looking Statements - The presentation includes forward-looking statements regarding the company's future performance and credit characteristics [2]. - Factors that may lead to different results are identified in the company's third quarter 2025 Form 10-Q and the 2024 Form 10-K [3].

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Core Insights - US mortgage rates have reached a one-year low, encouraging refinancing among homeowners and attracting potential buyers into the market [1] - The 30-year mortgage contract rate decreased by 7 basis points to 6.3% for the week ending October 24, as reported by the Mortgage Bankers Association [1] - The refinancing index hit its highest level since mid-September, while home-purchase applications increased for the first time in five weeks [1] Market Dynamics - Mortgage rates are influenced by US Treasury yields, which fell last week due to declining oil prices that alleviated inflation concerns [2] - A report indicating modest growth in US consumer prices contributed to expectations that the Federal Reserve may cut interest rates beyond the anticipated reduction [2] Housing Market Outlook - The decline in mortgage rates could revitalize the housing market, which has been stagnant for years [3] - Sales of previously owned homes increased in September, and economists predict that contract signings also rose, suggesting positive trends for future closings [3] - The National Association of Realtors is set to release a report on September pending-home sales, which may provide further insights into market activity [3] Data Collection Methodology - The Mortgage Bankers Association's survey, conducted weekly since 1990, incorporates responses from mortgage bankers, commercial banks, and thrifts, covering over 75% of all retail residential mortgage applications in the US [4]

US mortgage rates fell to a fresh one-year low, encouraging more homeowners to refinance and drawing prospective buyers into the market https://t.co/qtWfpnH3t1 ...