Accessibility/Mobile Features
Skip Navigation
Skip to Content
Editorial News
Business
Classified Sites

The Canadian Press - ONLINE EDITION

US mortgage giant Freddie Mac earns $1.4B in 2Q; will pay gov't $1.9B

FILE - This July 13, 2008 file photo shows Freddie Mac's corporate offices in McLean, Va. Freddie Mac reports quarterly financial results on Thursday, Aug. 7, 2014. (AP Photo/Pablo Martinez Monsivais, File)

Enlarge Image

FILE - This July 13, 2008 file photo shows Freddie Mac's corporate offices in McLean, Va. Freddie Mac reports quarterly financial results on Thursday, Aug. 7, 2014. (AP Photo/Pablo Martinez Monsivais, File)

WASHINGTON - Mortgage giant Freddie Mac posted net income of $1.4 billion for the April-through-June period, aided by a strengthening housing market. The government-controlled company has turned a profit in each of the past 11 quarters.

Freddie's second-quarter profit reported Thursday declined 72 per cent from $5 billion in the same period of 2013. Freddie said its earnings can fluctuate widely due to changes in the value of its holdings of derivatives, investments used to hedge against swings in interest rates. That can create "mismatches" in quarterly earnings that may not reflect the economics of its business, Freddie said.

McLean, Virginia-based Freddie said it will pay a dividend of $1.9 billion to the U.S. Treasury next month. Freddie will have paid $88.2 billion in dividends, exceeding its government bailout of $71.3 billion.

  • Rate this Rate This Star Icon
  • This article has not yet been rated.
  • We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high. If you thought it was well written, do the same. If it doesn’t meet your standards, mark it accordingly.

    You can also register and/or login to the site and join the conversation by leaving a comment.

    Rate it yourself by rolling over the stars and clicking when you reach your desired rating. We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high.

Sort by: Newest to Oldest | Oldest to Newest | Most Popular 0 Commentscomment icon

You can comment on most stories on brandonsun.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.

There are no comments at the moment. Be the first to post a comment below.

Post Your Commentcomment icon

Comment
  • You have characters left

The Brandon Sun does not necessarily endorse any of the views posted. Comments are moderated before publication. By submitting your comment, you agree to our Terms and Conditions. New to commenting? Check out our Frequently Asked Questions.

letters

Make text: Larger | Smaller

Brandon Sun Business Directory
The First World War at 100

Social Media

Canadian Mortgage Rates