Fannie Mae-No Politics (FNMA)

[navycmdr]

[navycmdr]

Mortgage rates tumble on tariffs, but housing costs still near record high

Published Thu, Apr 3 2025 - Updated 3 Hours Ago - @DianaOlickCNBC @DianaOlick

Key Points

---The average rate on the popular 30-year fixed loan plunged 12 basis points to 6.63% on Thursday.

--- For the four weeks ending March 30, the typical U.S. homebuyer’s monthly payment hit a record high
for the second week in a row, reaching $2,802.

--- In March, there was a 10% annual jump in new listings, with active listings up roughly 28%.

Mortgage rates fell sharply Thursday following the Trump administration’s tariff announcement.

The average rate on the popular 30-year fixed loan plunged 12 basis points to 6.63%, according to
Mortgage News Daily. That put it at the lowest level since October.

The massive sell-off in the stock market early Thursday sent investors fleeing to the bond market.
That caused bond yields to drop. Mortgage rates loosely follow the yield on the 10-year U.S. Treasury

, and they had been moving in a very narrow range since late February.

“While plenty of uncertainty remains over the finer points of Wednesday afternoon’s tariff announcement,
markets have heard enough to brace for impact on global trade,” wrote Matthew Graham,
chief operating officer at Mortgage News Daily.

The drop in rates comes at a good time for the housing market, as the historically busy spring
season kicks into gear. But there are several other factors working against buyers and hitting
home affordability hard.

For the four weeks ending March 30, the typical U.S. homebuyer’s monthly payment hit a record
high for the second week in a row, reaching $2,802, according to Redfin, a real estate brokerage.

“Sale prices are up 3.4% year over year, and the weekly average mortgage rate is 6.65%, near
its lowest level since December but more than double pandemic-era lows,” according to the report.

Even with a slight drop in mortgage rates Thursday, roughly 70% of households, or 94 million,
cannot afford a $400,000 home; the estimated median price of a new home is around $460,000
in 2025, according to the National Association of Home Builders. This calculation was based on
income thresholds and underwriting standards.

The minimum income required to purchase a $200,000 home at the mortgage rate of 6.5% is
$61,487, according to the report. In 2025, about 52.87 million households in the U.S. are
estimated to have incomes no more than that threshold and, therefore, can only afford to buy
homes priced up to $200,000.

While there is a growing supply of homes coming onto the market, that supply is not at the
price point where it is most in demand, meaning, it’s not on the lower end. It is also, in
general, far lower than it has been historically, due to chronic underbuilding since the
Great Recession.

“Supply is picking up; a lot of people I’ve spoken to over the last year or two are calling,
saying they’re ready to list their house,” said Matt Ferris, a Redfin agent in northern
Virginia. “Some believe we’re at the top of the market, and they want to get top dollar
for their house. Here in the D.C. area, some people are selling because they’re worried
about losing their government job, or because they want to buy closer to the city due to
in-office policies.”

As for the spring season so far, March saw a 10% annual jump in new listings, with active
listings up roughly 28% year over year, according to Realtor.com. But it also found homes
sitting on the market longer and the share of listings with price reductions rising. Pending
sales, which are signed contracts on existing homes, fell 5.2% from last March in the
nation’s largest metropolitan areas.

Some of the steepest declines were in Jacksonville, Florida, and Miami, Florida — down
15.1% and down 13.7%, respectively — where the markets have been softening due in
part to reverse pandemic migration. Virginia Beach, Virginia, saw a 14.2% decline.

“The high cost of buying coupled with growing economic concerns suggest a sluggish
response from buyers in early spring. We’re seeing a market that’s rebalancing, offering
more choices for shoppers,” Danielle Hale, chief economist for Realtor.com, wrote in a
release. “Recent improvements in mortgage rates bode well for the later spring and
early-summer housing season, as long as economic concerns settle and don’t knock
buyers off course.”

[Wingsjr]

To make sure no one isn’t injured (financially) SP needs to go to 80/shr. Then no one has any damages.

[TightCoil]

Apr 3
Go Fannie Mae - Go Freddie Mac
Recap of our PPS since Mar 7 which was Day 39 of over $5 when we were at $5.84. Then the next trading Day (Mar 10)) we went BELOW $5 to $4.91, but rebounded swimmingly the next Day (Mar 11) to $5.19 and hit $6.11 on Mar 14...
Apr 3 - $6.13 – 11,688,776 down 44c - Today
Apr 2 - $6.57 - 3,013,251 down 3c
Apr 1 - $6.60 - 6,043,923 up 28c
Mar 31 - $6.32 - 8,618,220 down 38 cents
Mar 28 - $6.70 – 5,985,439 down 31 cents
Mar 27 - $7.01 - 5,469,580 - up 9 cents
Mar 26 - $6.92 - 9,576,797 - down 39 cents
Mar 25 - $7.31 - 13,849,144 - up 21 cents
Mar 24 - $7.0879 - 16,707,951 - up 71 cents
Mar 21 - $6.38 - 8,510,618
Mar 20 - $6.25 - 8,037,839
Mar 19 - $6.03 - 8,071,667
Mar 18 - $5.65 - 10,339,547
Mar 17 - $5.82 - 9,309,100
Mar 14 - $6.11 - 16,518,200
Mar 13 - $5.50 - 5,951,400
Mar 12 - $5.65 - 9,589,600
Mar 11 - $5.19 - 10,480,900
Mar 10 - $4.91 - 16,783,700
Mar 7 -- $5.84 - 23,007,600

[TightCoil]

I take it you heard about the Supreme Court ruling in Trump's favor to make mandatory, a Preamble for all Marriage Ceremonys. It is now required for anyone admonistering Wedding Vows to precede the vows with:
You have the Right to Remain Silent. Anything you say can, and will, be used against you in a Court of Law.

[RickNagra]

Mortgage rates dropped again today.  Maybe tomorrow be a better day for us.
Mortgage rates tumble on tariffs, but housing costs still near record high
https://www.cnbc.com/2025/04/03/mortgage-rates-tumble-tariffs.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard

[jcromeenes]

Walking down the sidewalk opens people to litigation. There's always an unemployed attorney ready to take a flyer. Disgusts me.

[blownaccount9]

Yes but who is running the show and holding them? Oh yes, the US government who doesn’t want to be sued. The GSEs likely have a strong case no matter what to sue if they/their shareholders are damaged by any decisions made during release or really any time in conservatorship. All judges for all cases have said FnF have to bring the cases shareholders can not. This is my point that doing nothing is by far easier than releasing but now once case has been certified 8-0 decision it can be used to say they were compelled to release.

[navycmdr]

sent the article to our NEW SHERIFF BILL !

[FrostyEmpire44]

Release will not open litigation against FnF. The litigation would be against the US Government. Just as all the lawsuits currently. The Government will be the one releasing them. The board would have to do something shareholders do not like after that...and I am pretty sure release is shareholder friendly.

[blownaccount9]

The legality of entering was very hazy. Unwinding is equally if not more obscure. Any sort of release opens up lots of litigation possibly where doing nothing just keeps status quo. Once jury trial is through with no further appeals they can point to that to prove they had to release regardless of terms. It will likely be their excuse for being “forced” to give shareholders decent terms.

[navycmdr]

jus more justification for UPLIST to NYSE and THEN RELEASE !

[jcromeenes]

Pretty outstanding numbers in the article so I ask, WTF are we still in C?

[FOFreddie]

Hi Amelia,

Read the Trump Letter to Rand Paul

https://assets.realclear.com/files/2021/11/1921_trump_letter_to_rand_paul.pdf

The NWS was an Obama Scam used to steal. He said he was going to sell the UST shares.
Trump does what he says. Fairly Simple - lots of noise and posturing but in the end he has told you what he will do.

[navycmdr]

Boooooom ! jus READ IT ! ... only thing ya need to KNOW !

Fannie & Freddie are the WAY TO GO !



Mortgages may be the sunny spot in a cloudy US economy

New FHFA data shows that current mortgage borrowers are in a

strong position to weather an economic downturn

April 2, 2025, 12:58 pm By Mike Simonsen

The newest data on outstanding residential mortgages has been released via the
Federal Housing Finance Agency (FHFA)’s National Mortgage Database. It tells
a pretty strong story on the financial strength of the American homeowner.

Even after three years of rising interest rates and a painful housing market recession,
the lasting effects of the post-pandemic boom still dominate the average American’s
financial condition. Forty percent of homeowners have no mortgage at all — a
staggering number. And for the homeowners who hold mortgages, they remain
in outstanding shape.

After many years of consistent home-price appreciation, the average loan-to-value
(LTV) ratio across all outstanding mortgages in the U.S. is 46.9%. That’s down from
70% in 2013. It’s a massive cash cushion that will prevent a lot of unfortunate
situations if the economy slows under the new Trump administration’s policies.



In fact, 82% of mortgage holders have at least 30% equity in their home. Even
in a market where home prices dip — which could indeed happen in 2025 —
almost no existing homeowners are at risk of being underwater. At the end of
2024, the FHFA reported that 0.3% of borrowers have negative equity.



Beyond the large equity cushion, the low fixed mortgage rates that dominate
the landscape are another advantage for existing homeowners. It’s hard to
overstate how low the debt payments still are for this group. At the end of
2024, 82% of mortgages carried a rate below 6% and a whopping 54% of
mortgages have a rate below 4%.



These ultra-low payments carry weight in a slowing economy. In many recessionary
cycles, homeowners who lose their jobs are forced to sell their homes. If the home
is underwater and the time it takes to sell is very long, these homes may go into
foreclosure rather than being sold on the open market.

But in this cycle, the mortgage may be the best financial asset that the consumer
owns. If you lose your job, but you’re one of the 27 million homeowners with a 2%
or 3% handle loan, then your mortgage payment is cheaper than any alternative.
It’s cheaper than renting and it’s cheaper than downsizing.

These consumers will — and should — fight to keep their mortgage current, even
at the expenses of other liabilities. This is an unprecedented dynamic in any
pre-recessionary period we’ve ever experienced.

Monthly mortgage principal and interest payments — not including property taxes
and insurance — are near long-term lows as a percentage of income across the
homeowner spectrum, including those without mortgages. This debt load was as
high as 9% during the housing bubble that burst back in the late 2000s. It’s now
at 5.7%.



As a result of these terrific financial conditions, very few mortgage holders are in
any stage of delinquency, although this tailwind is starting to fade a bit. The
delinquency rate is creeping up as more borrowers have more expensive
payments and it is more likely for these payments to be missed.

As of the fourth quarter of 2024, only 3.6% of all borrowers were in any stage of
delinquency. The number of people with early-stage payment troubles — those
who are 30 days late — has increased back to the still-low pre-pandemic levels
of 2019.



Housing isn’t the only area of strength in the American economy in early 2025.
There are other bright spots, as corporate profits are still high. Unemployment
is still low. But these conditions can change quickly, especially with the heavy
new tariffs being implemented.

And while home prices may dip with rising inventory and still-weak buyer demand,
existing homeowners — with their ultra-cheap mortgages and very low levels of
debt — may indeed be the one area to shelter the economy from the storm.

[jog49]

"Genuine question, what if Trump just use the NWS to fund SWF? NWS is a lot of money.

Pretending the warrants were not collateral and exercisable at a strike ratio of 100,000 shares for $1 is also a mountain of money. With either option used, honest shareholders will be the victims of the government, plain and simple.

[FOFreddie]

Probably good news - sounds like the Tik Tok Deal is in sight - first investment for SWF

https://thehill.com/homenews/administration/5230168-tiktok-deal-vance-trump/

[blownaccount9]

My apologies I don’t know how to embed, but love this take from a dem who also is MAGA. Trump is working for the middle class. He wants to use our own resources, build our own infrastructure, and produce our own goods with American hands. Yes, our precious stock market tanks, but this also is doing exactly what he wants- it’s pushing bond rates down without fed intervention. This in turn makes the 30 year mortgage rates great just in time for struggling Americans that bought in the last 2-3 years a chance to refinance and others who have been trying to get into a home have a better change with 2-3% drops in interest rates in the next 6 months. My only hope is his administration will do the right thing for us shareholders and grant FnF freedom.

This might be the single best explanation of Trump’s tariff policies I’ve seen and it was from a former Democrat on Piers Morgan

Listen to the passion in her voice

Even @KariLake was impressed

Bravo @bungarsargon👏🏼 pic.twitter.com/4H7bVpasQP

— DC_Draino (@DC_Draino) April 3, 2025

[navycmdr]

InMortgageFinance - @IMFpubs

Exit from conservatorship will likely be done without legislation, says
former Freddie CEO Don Layton, so you’re stuck with the structures
obligations in the GSE charters. “Between some new regulations
and the PSPAs…what can you make happen otherwise?”

Exit from conservatorship will likely be done without legislation, says former Freddie CEO Don Layton, so you’re stuck with the structures/obligations in the GSE charters. “Between some new regulations and the PSPAs…what can you make happen otherwise?” https://t.co/JycWgNlVsG

— InMortgageFinance (@IMFpubs) April 3, 2025

[kip128932156]

The sun is shiny $FNMA $FMCChttps://t.co/LT7sqQpgRM

— Nico (@nicosintichakis) April 3, 2025

[nagoya1]

Anything genuine, lol, the market is falling down from the GSE chicken little too funny.
Fnma

[jcromeenes]

I want to see production come back to the USA as well. The downside is that it's going to take years and vehicles will cost consumers probably 15% on average, at a minimum. Just remember that every time you purchase.

[TightCoil]

They is startin' to Move

Move It Move It Move It

[Patswil]

FNMA spiking

[Bostonsesco]

Riiiiiiiight Riiight!

[TightCoil]

FNMA at $6.24 - up 29c from low - down 9c from high
FMCC at $5.27 - up 16c from low - down 16c from high

[GVInvestments]

Do warrants get canselled on the 4Th of May 2025 ?

[navycmdr]

Genuine reply ... after the letter TRUMP wrote and the fact that

both Fannie and Freddie are retaining ALL their EARNINGS

with NONE going to the NWS .... it AINT GONNA HAPPEN

Treasury BESSENT already said in an interview that they

were looking at the GOVT's sizeable "position" in the GSEs

to FUND the SWF - NOT the NWS ... pretty clear intentions

[stockprofitter]

We can rest assured they will be “forever” shares

[amelia43]

Genuine question, what if Trump just use the NWS to fund SWF? NWS is a lot of money.

[Guido2]

Thank you Clarence for citing the law (APA) Administrative Procedure Act of 1946 and also the Good Cause Exception Pulte can use. Posting it again and strongly encourage all shareholders to read it.

https://www.congress.gov/crs-product/R44356

[navycmdr]

yup ... my fortune cookie said buy more Freddie this morning ...

I only buy on RED days ... posted this many times ... it works !

[stockprofitter]

Sexy Wealthy Fannie SWF

[stockprofitter]

They will lock in shares forever IF shares actually go into SWF

WIN WIN

[wdereb79]

If this finishes green then stink stack will give you a free fortune cookie.

[RickNagra]

Sovereign Wealth Fund.  Literally a savings account for the USA.  Finally build some wealth and watch it grow instead of spend spend spend.

[TightCoil]

Fannie Mae - All The Way

WANTED: Rumors - We accept all forms of Rumors - FREE
BONUS - Best Rumor for the Day wins a BIG PRIZE

[Acme Investments]

Easy Money 💵!!

[Bostonsesco]

What is SWF please forgive my ignorance!

[RickNagra]

The Dow is improving.  The Nasdaq is improving.  We are improving.  My mental health is improving.  My dating is improving.  And most importantly my unicorns are coming.

[stockprofitter]

I’ll buy profitable $21B companies over sympathy any day

[2221]

newly appointed housing chief has made waves by launching a dramatic shakeup at mortgage giants Fannie Mae and Freddie Mac, potentially reshaping America's mortgage market.

William Pulte, a private equity executive whose family founded one of the country’s largest homebuilding companies, took charge of the Federal Housing Finance Agency (FHFA) on March 13. The regulator is responsible for overseeing both Fannie Mae and Freddie Mac. Pulte wasted no time in executing a dramatic purge of leadership at both mortgage giants.

[2221]

newly appointed housing chief has made waves by launching a dramatic shakeup at mortgage giants Fannie Mae and Freddie Mac, potentially reshaping America's mortgage market.

William Pulte, a private equity executive whose family founded one of the country’s largest homebuilding companies, took charge of the Federal Housing Finance Agency (FHFA) on March 13. The regulator is responsible for overseeing both Fannie Mae and Freddie Mac. Pulte wasted no time in executing a dramatic purge of leadership at both mortgage giants.

[RickNagra]

The unicorns are coming.  I have sounded the unicorn horn.  They will slap the ASK.  We will close in the green.  Long live the unicorns.

[FOFreddie]

Thanks Nats and Clarencebeaks21 - One thing that may be holding up an announcement for an EO may be the Tik Tok negotiations which seem to be dragging out longer than expected. Lutnick said that his and Bessent's goal was to generate $ 1 trillion in SWF assets and not cost to the UST and it seemed like DJT was thinking that 50% of Tik Tok would be worth around $ 500 bn. My hunch is that we will not see any movement on the SWF until the Tik Tok deal is resolved and then the GSEs will be the next announcement. Regarding the timing of the comment periods - thanks for all the insight of you both - I am thinking that the easiest way to move forward would be to work within the 6-month time frame that Yellen instituted by the last Letter Amendment so it seems like all of this could still work with an end of year 2025 or 1Q 2026 Exit. The other shoe I am waiting to drop is the Final Order from Lamberth and whether that will lead to some type of Settlement. I am probably wrong, but I am thinking that since it is a Class Action representing 99.9 % of JPS and FMCC shareholders that this is an optimal way to resolve the shareholder litigation issue for everyone except FNMA shareholders and I am thinking the Bryndon Fisher suit could resolve that via some type of Settlement that fits within the bounds of the Derivative action.

Unfortunately for us long suffering shareholders the path to Exit is full of interesting regulatory, legal, economic, political and other issues that one day will be worth it to have pondered!!

[Donotunderstand]

First of Three allowed

Off the top of my head - post protectionist redux news

FNMA and FMCC (and yes the JPS) trade on likelihood of a positive type of freedom (not diluted to zero and maybe 50 on high side)
FNMA and FMCC have not participated - moved with - the market for 12-15 years or whatever

FNMA and FMCC --- have no reason (other than margin calls and panic) to move DOWN big if --- if - the market decides to move down big

FNMA and FMCC are speculative and in the BEGINNING of a correction speculative stocks take a noticeable early hit

Summary
If - if - market goes down say 8 of next 10 days - I suggest FNMA and FMCC may swing wildly but have no reason to go down and bluntly no reason to go up ----- as their PPS is news and DJT (if you prefer Pulte and Bessent) Driven . For example - I could argue that the noise over tariffs and market drops could cover for a dramatic fast freedom for F and F

[jcromeenes]

But it is down in sympathy.

[jcromeenes]

Something tells me more will go in to it.

[blownaccount9]

All they do is add a signature. Pulte does all the work.

[stockprofitter]

FNF doesn’t care about tariffs. Sell your losing tariff sticks and buy Fannie / Freddie. You’ll be glad you did.