In its report, Federal Home Loan Mortgage Corp (OTCBB:FMCC) said that the housing market in U.S. is improving. The housing finance company said that mortgage rates on a 30-year fixed loan declined from 3.78% to 3.69% this week. The weekly survey pointed that the average rate of mortgage on 15-year fixed mortgage dropped to 2.97% from 3.06%.

Home sales

Federal Home Loan Mortgage Corp (OTCBB:FMCC)’s report signal that the drop in mortgage rates could propel home buying during the spring season. However, the housing giant said that it will be too early to comment whether cheap borrowing costs as well as improving employment in the U.S. will revive the housing market, which went sluggish last year.

The company pointed that home sales in Southern California fell in February. Also, the volume of owned homes sold remained softer across the nation. Despite the data, Federal Home Loan Mortgage Corp (OTCBB:FMCC)’s economist Len Kiefer expressed optimism that the current environment is conducive for prospective home buyers. The data came as a part of the housing company’s weekly practice of estimating mortgage rate status in the U.S.

FMCC veteran in FHA

Separately, the Wall Street Journal reported that Federal Home Loan Mortgage Corp (OTCBB:FMCC)’s veteran Edward Golding has been taken in as principal deputy assistant secretary. Sources claim that Golding has been brought into this position so that he could take over as head of the Federal Housing Administration eventually. Golding’s current position confers him with powers slightly limited to that of FHA commissioner. The move has been welcomed by the Mortgage Bankers Association as its President and CEO David Stevens said that Golding is an excellent choice to fill in for a critical role in FHFA.

Meanwhile, shares of Federal Home Loan Mortgage Corp (OTCBB:FMCC) were up by 0.01% to $2.39 during the after-hours. An average of 1.79 million shares traded during the last session.

Previous articleInvivo Therapeutics Holdings Corp (OTCMKTS:NVIV) To Progress With Neuro-Spinal Scaffold Pilot Study
Next articleAMARANTUS BIOSCIENCE HOLDINGS, INC. (OTCBB:AMBS) Surge On Up-listing And Phase 2b Trial Plans
Steve Kanaval: Portfolio Manager/Writer/ Market Analyst Steve began his career in the Trading Pits in Chicago making markets at the Chicago Mercantile Exchange (NYSE:CME) the Chicago Board of Trade and the CBOE in the early 80’s. He ran the Morgan Stanley Derivative Prop Trading for the firm specializing in Index Arbitrage. He continued his career as a Trader/Portfolio Manager for multiple Hedge Funds during the Internet Boom of the 90’s managing large portfolios. Steve is known as an expert in MicroCap Technology Stocks and the emerging Digital Currency markets as a Portfolio Manager for his Family Office. Steve has managed portfolio’s in volatile asset classes for 3 decades as a commodity trader, hedge fund manager and digital currency trader and miner. Steve publishes his views on the asset classes in a public forum and has published more than 10,000 articles simplifying these complex and volatile assets for readers. His work is published on multiple sites including Bloomberg,,, CryptoCurrencyNews as a paid contributor. His work includes research, journalism and archived video on important market volatility related to stocks, digital currency and other volatile misunderstood asset classes. He offers a humorous, unique insight and the related back stories and drivers for readers interested in volatility and emerging market assets. Full disclosure Steve is long 25 digital currencies and sits on the board of multiple public companies involved in digital currencies, and owns shares in these companies from time to time.