Freddie Mac (FMCC) Q3 2026 earnings summary

Executive summary

• Q3 net revenues were $6.810B, up 19% YoY, and net income was $3.235B, up 17%; results were partly offset by an $800M credit-loss provision.

• Provided $114B of mortgage-market liquidity, financing 420,000 households: 286,000 mortgages and 134,000 rental units; 106,000 first-time homebuyers were supported.

• Net worth was $81.0B at September 30, 2026, up from $67.6B a year earlier; quarterly increases are added to senior preferred stock liquidation preference.

Financial highlights

• Net interest income was $5.88B, up 8% YoY; net interest yield was 0.67% versus 0.64%.

• Non-interest income was $933M versus $284M, primarily reflecting investment gains and interest-rate risk-management activity.

• Credit-loss provision was $800M versus $175M in 3Q25; non-interest expense was $1.994B, down 6% YoY.

• YTD net income rose 34% to $10.63B; YTD non-interest expense declined 4% to $6.11B.

Outlook and guidance

• House-price forecast: growth of 1.3% over the next 12 months and 1.5% over the subsequent 12 months.

• An October 2026 executive order authorized FHFA to direct a mortgage-insurance cancellation pilot and expand a title-acceptance pilot; potential impacts were being evaluated.