Strong financial performance driven by increased revenue and profit

  • Freddie Mac reports higher third-quarter revenue
  • Profit of $2.7 billion, up from $1.3 billion last year
  • Revenue rose 10% to $5.7 billion
  • Benefit for credit losses of $263 million
  • Net interest rose 4% and non-interest income rose 50%

Freddie Mac, the government-backed housing-finance company, has reported higher third-quarter revenue and profit. The company recorded a profit of $2.7 billion, up from $1.3 billion a year ago. Revenue also rose by 10% to $5.7 billion. This strong financial performance was driven by increases in both interest and non-interest income. Freddie Mac benefited from credit losses of $263 million, primarily due to increases in single-family house price appreciation. Additionally, net interest rose by 4% and non-interest income rose by 50%, mainly driven by higher guarantee income in multifamily and higher net investment gains.

Public Companies: Freddie Mac (N/A)
Private Companies:
Key People:

Factuality Level: 8
Justification: The article provides specific financial figures and percentages, which can be easily verified. The information is straightforward and does not contain any obvious bias or opinion.

Noise Level: 7
Justification: The article provides some relevant information about the Federal Home Loan Mortgage’s third-quarter revenue and profit. However, it lacks in-depth analysis, scientific rigor, and actionable insights. It also does not explore the consequences of the company’s decisions on those who bear the risks. The article stays on topic and supports its claims with some data, but overall, it contains a fair amount of noise and filler content.

Financial Relevance: Yes
Financial Markets Impacted: The financial markets impacted by this news article are the housing market and the mortgage industry.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: This news article pertains to the financial performance of the Federal Home Loan Mortgage (Freddie Mac) in the third quarter. It provides information on the company’s revenue, profit, and various income sources. There is no mention of any extreme event or impact rating in the article.