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Freddie Mac Q2 net income rises 61% to $3.8 billion
The GSE cited an $880 million credit benefit and higher net interest income, while net worth rose to $77.8 billion at quarter end.
Freddie Mac reported second-quarter net income of $3.8 billion, up 61% year over year, attributing the increase to an $880 million credit benefit and higher net interest income, according to HousingWire.
Net revenue increased 1% to $5.991 billion. Net interest income rose 13% to $6.01 billion, supported by growth in Freddie Mac’s mortgage portfolios and a larger balance of fully guaranteed multifamily securitizations, partly offset by a $19 million noninterest loss compared with a $617 million noninterest income figure a year earlier.
The company said its total mortgage portfolio grew to $3.7 trillion and net worth increased to $77.8 billion at the end of the quarter, up from $64.8 billion a year earlier and $74 billion in Q1 2026. Freddie Mac also said it supported nearly 439,000 families in the quarter with buying, refinancing, or renting, with most refinanced homes and apartments affordable to working families earning 120% or less of area median income.
Freddie Mac noted that the $880 million benefit for credit losses reflected a release of single-family credit reserves following updates to its process for generating future home-price scenarios. It also said noninterest income swung to a loss as a result of net investment losses in the second quarter of 2026 versus gains in the prior year quarter, along with lower guarantee income.