GSEs Earn a Combined $15.1 Billion in Q2
The Federal Housing Finance Agency (FHFA) is expanding the agency’s regular reporting on Fannie Mae, Freddie Mac and the Federal Home Loan Banks (FHLBanks). In the second quarter of 2013, Fannie Mae and Freddie Mac earned a combined $15.1 billion. The second quarter of 2013 marks the sixth consecutive quarter in which both Fannie and Freddie reported a positive net income. Continued improvement was seen in national house prices, as credit quality of new single-family business remained high. Year-to-date through May 2013, national house prices rose 4.3 percent, according to the FHFA House Price Index, marking the seventh consecutive quarterly price increase in the purchase-only, seasonally adjusted index. Moreover, national house prices rose 7.3 percent compared to a year ago. The new FHFA Quarterly Performance Report of the Housing GSEs provides a summary of data available in Fannie Mae, Freddie Mac and the FHLBanks’ individual public filings, including some combined trends. The first issue covers the second quarter of 2013 and includes key market drivers such as house prices, average interest rates, and swap rates. The Performance Report also includes a quarterly update on the conservatorships of Fannie Mae and Freddie Mac. The new enhanced report will be produced quarterly and the FHFA Conservator’s Report will continue on an annual basis.