Third quarter results for Fannie Mae and Freddie Mac were as follows:

Freddie purchases accounted for 80% of total single-family start-up activity ($121 billion). Meanwhile, net income for the multifamily segment was $470 million, down $421 million from Q3 2021.

On the bright side, both GSEs boosted net worth in the third quarter. Fannie Mae increased his $2.4 billion to $58.8 billion and Freddie Mac’s net worth increased to his $35.2 billion, representing an improvement of $1.1 billion.

“In a dynamic economic environment, Freddie Mac continues to much-needed liquidity, stability and affordability to the housing finance system,” said Michael DeVito, CEO of Freddie Mac. “We generated $1.3 billion in quarterly net income and increased capital to support our mission. We are actively managing the company for that reason.”

“Our third quarter results reflect the changing conditions in today’s housing market, and in this environment, we continue to be a stable pillar of the market, managing risk and supporting tenants and homeowners. Our focus is on supporting them,” Benson said.

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