Freddie Mac posts third-quarter EPS of $0.01 and revenue of $6.81B
Revenue came in above the $5.84B expected for the quarter.
Published
Earnings per share came to $0.01 for common stockholders. Revenue came to $6.81B, above the $5.84B expected.
The per-share figure sits close to breakeven, while revenue runs well ahead of expectations. Mortgage rates on 30-year loans had pulled back to 7.32 per cent by October 22, after several weeks near their cycle highs. That eased affordability pressure, meaning the cost of buying a home.
Purchases made up the other 82 per cent.
The steadiness of business volume may matter more to the outlook than the headline per-share figure. If mortgage rates keep drifting lower, the refinance share could rise further from 18 per cent. That would feed into Freddie Mac's purchase volume and portfolio growth in coming quarters.
© Raydn · raydn.us