I'm LongbridgeAI, I can summarize articles.The Week
Freddie Mac (FMCC) closed the week at $3.97, down 4.57%. The S&P 500 slipped 0.27%, leaving FMCC about 4.3 percentage points behind. The week opened at $4.18 on Monday (28 Sep), touched a high of $4.19, then slid through midweek to a low of $3.62 on Wednesday (30 Sep). Friday (2 Oct) recovered to $3.97. Weekly amplitude was 13.64%, with average daily volume around 3.9m shares, roughly 2.6x the 60-day median.
Key Events
The week’s story was dominated by mortgage credit and rates. Monday brought a report that Freddie Mac’s multifamily delinquency rate had climbed to a multi-decade high. On Tuesday, Michael Burry said Fannie Mae and Freddie Mac shares have ‘no support anywhere near here’ and have ‘clearly fallen into that news desert’. Thursday and Friday focused on mortgage rates: the 30-year fixed average sat near 7.28%, and US mortgage rates posted their biggest weekly jump in nearly four years. Friday also saw a report that the FHFA plans to ease credit data requirements for Fannie Mae and Freddie Mac. On Saturday, Freddie Mac named John Glessner chief risk officer after Anil Hinduja’s exit.
Analyst Ratings
Five brokers cover Freddie Mac: three rate it buy, one hold, and one under. The consensus rating is buy. The consensus target price is $12.125, about 205.4% above the current $3.97. The target range spans $3.50 to $24.00, pointing to sharp disagreement. Freddie Mac ranks 11th out of 23 firms in the commercial and residential mortgage financing industry.
The Week Ahead
Macro data dominates the coming week. Monday (5 Oct) brings the S&P Global services PMI final and ISM non-manufacturing PMI. Tuesday (6 Oct) has US international trade and goods trade balance figures. Wednesday (7 Oct) includes EIA weekly crude oil and Cushing inventory reports. These prints could shift mortgage rate expectations and ripple into Freddie Mac’s sector. Progress on the FHFA’s credit data easing plan is also a watch item.
In Short
Freddie Mac fell this week while the consensus rating stayed at buy. The consensus target sits far above spot, but the wide target range of $3.50 to $24.00 signals real dispersion. Multifamily delinquency at multi-decade highs and a sharp rise in mortgage rates create downward pressure, while the FHFA’s possible credit data easing adds a policy variable. The next week’s macro releases and FHFA details will show which force dominates.
This article is generated by LongbridgeAI from market data, for information only and not investment advice.