Freddie Mac posted a $2.9 billion profit for the third quarter of 2012, a huge improvement from the $4.4 billion loss posted one year ago. This is the second consecutive quarter that Freddie has not required any extra bailout money from the US government.
As foreclosures drop, home prices stabilize. As prices stabilize, loans perform better making them less likely to default. "Driven by favorable market conditions, including the continued improvement in the housing market, as well as our ongoing efforts to minimize losses on our legacy book..." Donald Layton - Freddie Mac’s chief executive - is optimistic about the future of the housing economy.
Home prices nationwide have seen a...Continue Reading Profits for Freddie Mac indicate Improving Housing Economy