Freddie Mac 2Q Profit Climbs from Net Interest Income Growth

By Dean Seal

Freddie Mac said net revenue gains from higher net interest income boosted its profit for the second quarter.

The secondary mortgage market company under government conservatorship posted net income of $3.84 billion, up from $2.39 billion in the same quarter a year ago. The big jump came from a credit reserve release during the quarter instead of a credit reserve build like it had a year earlier.

Net revenue rose 1.3% to $5.99 billion, tied to higher net interest income that more than offset a noninterest loss.

Net interest income was up 13% at $6 billion thanks to an increase in the balance of fully guaranteed securitizations in the multifamily mortgage portfolio. That came from a change in multifamily business strategy and continued mortgage portfolio growth in the single-family business.

Noninterest income meanwhile came in at a $19 million loss for the quarter due to net investment losses.

Freddie Mac said new single-family home business activity was up to $110 billion from a $94 billion a year earlier on higher refinance activity.

New multifamily business activity increased too from a larger new business pipeline entering the year.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

July 30, 2026 08:43 ET (12:43 GMT)