Freddie Mac posts third-quarter revenue of $6.81 billion, above forecasts, with EPS of $0.01
Analysts expected revenue of $5.84 billion, but earnings per share for common stockholders are almost nil.
Freddie Mac reports third-quarter revenue of $6.81 billion, against the $5.84 billion analysts expected. Earnings per share for common stockholders are $0.01.
Lending activity is holding up. September mortgage funding was $36 billion, and $359 billion year to date, according to Freddie Mac's investor page. Of September's single-family purchases, 82% were home purchase loans and 18% were refinancings, a modest refinance share.
Mortgage rates are the main variable. The 30-year rate has pulled back to 7.32%, which began to ease affordability strain after weeks near cycle highs. If rates keep drifting lower, refinancing could take a larger share of that 18%. That would add to Freddie Mac's purchase volume and portfolio growth in coming quarters.
For investors, the steadiness of that business matters more than one quarter's near-zero per-share figure.
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