Freddie Mac reported net income of $3.8 billion for the first quarter of 2022, an increase of 37% year-over-year, even as purchase and refinance activity continued to decline.

The company’s net worth climbed to $31.7 billion, up nearly $13 billion from the same time last year. Its single-family mortgage portfolio now stands at $1.9 trillion, a year-over-year increase of 17%, due to house price appreciation and strong home purchase activity. 

“Freddie Mac delivered a strong first quarter performance, with net income exceeding both the first and fourth quarters of 2021,” said Freddie Mac CEO Michael DeVito. “We remain intensely focused on our details ⇒

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