Source: Freddie Mac
The name "Freddie Mac" is derived from the company's full name, Federal Home Loan Mortgage Corporation (FHLMC), and has been adopted officially for ease of identification. Freddie Mac is a government-sponsored enterprise of the United States government. It is a stockholder-owned corporation authorized to make loans and loan guarantees. The FHLMC was created in 1970 to expand the secondary market for mortgages in the US and was chartered by Congress with a public mission to stabilize the nation's residential mortgage markets and expand opportunities for homeownership and affordable rental housing. Freddie Mac participates in the secondary mortgage market by purchasing mortgage loans and mortgage-related securities for investment and by issuing guaranteed mortgage-related securities. Freddie Mac does not lend money directly to homeowners.Dataset: 30-Year Fixed Mortgage Rate from the Mortgage Rates and Points Database
Reports the average rate for 30-year fixed-rate mortgages in the United States by survey week. Since April 1971, Freddie Mac has surveyed lenders across the nation weekly to determine the average 30-year fixed-rate mortgage rate and points as part of the Primary Mortgage Market Survey.
Reports national averages rates and points (and margin for adjustable rate mortgages [ARMs]) for 30-year fixed-rate, 15-year fixed-rate, 5/1 hybrid amortizing adjustable-rate, and 1-year amortizing adjustable rate mortgage products. The data are collected via Freddie Mac's Primary Mortgage Market Survey (PMMS), a weekly survey of lenders on the rates and points for their most popular mortgage products. The survey is based on first-lien prime conventional conforming mortgages with a loan-to-value of 80 percent. In addition, the ARM are indexed to constant-maturity US Treasury rates and lenders are asked for the both the initial coupon rate and points as well as the margin on the ARM products. Currently, 125 lenders are surveyed each week and the mix of lender types (thrifts, commercial banks and mortgage-lending companies) is roughly proportional to the level of mortgage business that each type commands nationwide.