DALLAS, Nov. 1, 2010 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring Freddie Mac (OTCBB:FMCC). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
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Federal Home Loan Mortgage Corp. (FMCC), also known as Freddie Mac, is engaged in purchasing residential mortgages and mortgage-related securities in the secondary mortgage market and securitizing them into mortgage-related securities that can be sold to investors. The Company purchases single-family and multifamily mortgage-related securities for its mortgage-related investments portfolio. It also purchases multifamily residential mortgages in the secondary mortgage market and hold those loans either for investment or sale. Freddie Mac finances purchases of its mortgage-related securities and mortgage loans, and manages its interest-rate and other market risks, by issuing a range of debt instruments and entering into derivative contracts in the capital markets. The Company operates in three segments: Investments, Single-family Guarantee and Multifamily.
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In the report, the analyst notes:
"Mortgage buyer Freddie Mac last week said the 30-year fixed-rate mortgage average rose to 4.23% with an average 0.8 point for the week ending October 28, up from 4.21% a week earlier. Last year at this time, the average was 5.03%."
"Mixed economic data releases left mortgage rates little changed this week. Consumer confidence increased slightly in October, according to The Conference Board, but still remains at low levels. Based on the S&P/Case-Shiller 20-city composite index, house prices fell 0.3% between July and August, while the purchase-only index by the Federal Housing Finance Agency showed a 0.4% gain over the same period," said Frank Nothaft, FMCC chief economist ..."
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