General World News

Fannie Mae & Freddie Mac earnings drop in Q3

Fannie Mae and Freddie Mac both saw net earnings trend down in the third quarter as interest rates rose and industry loan production waned.

In its earnings call on Friday, Fannie Mae reported net earnings of $4.84 billion, a 32% decline from the prior quarter. Freddie Mac meanwhile earned $2.9 billion, a 21% fall from the second quarter.

Still, executives at the government sponsored entities stressed that the third quarter was among the best in their respective histories.

“It was another strong quarter for the housing market and details ⇒

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