Freddie Mac

Who is Freddie Mac?  Freddie Mac is a stockholder-owned corporation chartered by Congress in 1970 to keep money flowing to mortgage lenders in support of homeownership and rental housing. Freddie Mac purchases single-family and multifamily residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage pass through securities and debt instruments in the capital markets. By doing so, they help homeowners and renters get lower housing costs and better access to home financing.

Mortgage & Homeownership Facts:

• Freddie Mac purchased $384 billion of single-family (1-4 unit) mortgages in 2001.
• Freddie Mac purchased 2,845,868 single-family mortgages in 2001.
• The median balance of a single-family mortgage purchased by Freddie Mac in 2001 was $134,975.
• Freddie Mac has financed homeownership for more than 30 million families since 1970.
• Freddie Mac purchased one mortgage every 6 seconds in 2003.
• The highest mortgage rate ever reported on Freddie Mac's weekly national survey was 18.63% the week of October 9, 1981.
• The lowest mortgage rate ever on the Freddie Mac survey was 5.21% the week of June 12th, 2003. (there have been new lows since)

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