Freddie Mac Earns $3.2 Billion in Q3 2026 as Net Worth Reaches $81 Billion
Freddie Mac reported third-quarter net income of $3.2 billion, up 17% from a year earlier, on net revenues of $6.8 billion. A $0.8 billion credit-loss provision and a 0.61% single-family serious delinquency rate stood out.
By Joseph Salem · 4 min read
Freddie Mac reported net income of $3.2 billion for the third quarter of 2026, up 17% from the third quarter of 2025, in results released before markets opened on Thursday, Oct. 29, 2026. Net revenues were $6.8 billion, up 19% year over year, and net worth reached $81 billion at Sept. 30, according to the company's third quarter 2026 earnings release.
Net income was lower than the second quarter's $3.8 billion. The main reason was a swing in credit-loss provisioning: Freddie Mac recorded a $0.8 billion provision in the third quarter, compared with an $880 million benefit in the second.
Key figures
| Measure | 3Q 2025 | 2Q 2026 | 3Q 2026 |
|---|---|---|---|
| Net interest income | $5,455 | $6,010 | $5,877 |
| Net revenues | $5,739 | $5,991 | $6,810 |
| (Provision) benefit for credit losses | ($175) | $880 | ($800) |
| Net income | $2,773 | $3,838 | $3,235 |
| Net worth, end of period | $67,600 | $77,769 | $80,975 |
Source: Freddie Mac, Third Quarter 2026 Financial Results press release, Oct. 29, 2026. Additional filings are listed on Freddie Mac's earnings releases page.
Credit reserve and delinquencies
Freddie Mac said the third-quarter provision mainly reflected a Single-Family credit reserve build driven by an increase in projected future mortgage interest rates, as well as new acquisitions. The Single-Family serious delinquency rate was 0.61%, up from 0.59% at Dec. 31, 2025, and 0.57% a year earlier. The Multifamily delinquency rate was 0.58%, up from 0.51% a year earlier.
Those are portfolio-wide measures. They describe loans Freddie Mac guarantees, not the risk of any individual borrower.
Business activity
The company said it provided $114 billion of market liquidity during the quarter and financed 420,000 homes and rental units, including 286,000 mortgages and 134,000 rental units. First-time homebuyers made up 51% of new single-family purchase loans. Single-Family new business activity was $98 billion, compared with $99 billion a year earlier, and Multifamily new business was $16 billion, down from $25 billion. The total mortgage portfolio was $3.7 trillion at Sept. 30.
The release also said that, with direction from U.S. Federal Housing during the quarter, Freddie Mac began accepting the VantageScore credit scoring model from all lenders.
What it does and does not mean for borrowers
Freddie Mac buys and guarantees loans that lenders originate. Its quarterly earnings are not a mortgage rate quote, and strong results do not lower any borrower's rate or fees directly. Borrowers still receive pricing from their lender, which reflects loan-level factors such as credit score, down payment and loan type.
The company remains in conservatorship. Its senior preferred stock liquidation preference was $150.4 billion at Sept. 30.
Cover: native chart by mortgage.news from Freddie Mac's published results.