Freddie Mac reported net income of $2.8 billion for the first quarter of 2025, a 1% increase compared to the first quarter of 2024. Net revenues reached $5.9 billion, up 2% year-over-year, primarily driven by higher net interest income of $5.1 billion, which increased 7% year-over-year. The company's net worth increased to $62 billion.
The Single-Family segment reported net income of $2.3 billion, up 16% year-over-year, with new business activity of $78 billion, an increase from $62 billion in Q1 2024. The Multifamily segment's net income decreased by 35% year-over-year to $0.5 billion, with net revenues declining 27% to $0.9 billion. The provision for credit losses increased by 55% to $280 million, primarily due to a credit reserve build in Single-Family from new acquisitions.
The Single-Family serious delinquency rate increased to 0.59% as of March 31, 2025, up from 0.52% a year prior, while the Multifamily delinquency rate rose to 0.46% from 0.34%. Despite this, 62% of the Single-Family portfolio and 93% of the Multifamily portfolio had credit enhancement coverage. The liquidation preference of the senior preferred stock held by Treasury increased to $132.2 billion as of March 31, 2025, and will increase to $135.1 billion based on Q1 2025 results.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.