Tuesday, May 2, 2017

Freddie Mac first quarter profit withstands impact of rising interest rates

Freddie Mac started 2017 slightly down as the market adjusted to lower refinance volumes and rising interest rate levels in the first quarter. The government-sponsored enterprise is less than one year away from the start of 2018 when its capital reserve amount is supposed to be zero. As it reaches that point, Freddie Mac’s dividend obligation to Treasury in June 2017 will be $2.2 billion, based on Freddie Mac’s net worth of $2.8 billion at March 31, 2017.

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