Company: FMCCN
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001026214-25-000086
Chunk: 117

Company: FEDERAL HOME LOAN MORTGAGE CORP
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 117
---
 (413)(13)Impact on net interest income from hedge accounting(288)(635)347 55 (654)(1,328)674 51 Net interest income$5,299 $4,928 $371 8 %$10,401 $9,687 $714 7 %

Key Drivers: 

n    Guarantee net interest income

l    2Q 2025 vs. 2Q 2024 and YTD 2025 vs. YTD 2024 - Increased primarily due to continued mortgage portfolio growth in Single-Family and our change in business strategy that resulted in an increase in the volume of fully guaranteed securitizations in Multifamily.

n    Investments net interest income

l    2Q 2025 vs. 2Q 2024 and YTD 2025 vs. YTD 2024  - Decreased primarily due to lower income from securities purchased under agreements to resell driven by a decrease in short-term interest rates.

n    Impact on net interest income from hedge accounting

l    2Q 2025 vs. 2Q 2024 and YTD 2025 vs. YTD 2024 - Decreased due to lower expense related to debt in hedge accounting relationships.

Freddie Mac 2Q 2025 Form 10-Q6

Management's Discussion and AnalysisConsolidated Results of Operations

Net Interest Yield Analysis

The table below presents a yield analysis of interest-earning assets and interest-bearing liabilities. 

Table 3 - Analysis of Net Interest Yield 2Q 20252Q 2024(Dollars in millions)AverageBalanceInterestIncome(Expense)AverageRateAverageBalanceInterestIncome(Expense)AverageRateInterest-earning assets:Cash and cash equivalents$9,370 $73 3.10 %$11,368 $123 4.26 %Securities purchased under agreements to resell106,309 1,186 4.46 116,817 1,593 5.46 Investment securities74,793 845 4.52 41,899 484 4.62 Mortgage loans(1)3,208,045 29,901 3.73 3,113,656 26,821 3.45 Other assets2,946 43 5.79 2,610 43 6.51