The 30-year fixed-rate mortgage this week climbed to 6.96%, according to Freddie Mac. Housing economists said rate are likely on their way downward in the coming months.
The stress test results for Freddie Mac show that an adverse scenario would affect its credit losses more than the 2022 test did.
The Mortgage Bankers Association (MBA) reported that the mortgage delinquency rate fell to its lowest level since it began tracking this metric 43 years ago, supporting claims the economy is on the cusp of a turnaround.
ACE+ PDR was originally a temporary offering. However, effective August 2, 2023, this offering has been added to the Single-Family Seller/Servicer Guide (Guide).