Company: FMCCN
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001026214-25-000116
Chunk: 225

Company: FEDERAL HOME LOAN MORTGAGE CORP
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 2
Chunk 225
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The table below presents the components of net interest income.

Table 2 - Components of Net Interest IncomeChangeChange(Dollars in millions)3Q 20253Q 2024$%YTD 2025YTD 2024$%Guarantee net interest income:Contractual net interest income$4,041 $3,844 $197 5 %$12,053 $11,430 $623 5 %Deferred fee income185 188 (3)(2)557 533 24 5 Total guarantee net interest income4,226 4,032 194 5 12,610 11,963 647 5 Investments net interest income1,369 1,511 (142)(9)4,040 4,595 (555)(12)Impact on net interest income from hedge accounting(140)(544)404 74 (794)(1,872)1,078 58 Net interest income$5,455 $4,999 $456 9 %$15,856 $14,686 $1,170 8 %

Key Drivers: 

n    Guarantee net interest income

l    3Q 2025 vs. 3Q 2024 and YTD 2025 vs. YTD 2024 - Increased primarily due to continued mortgage portfolio growth in Single-Family and our Multifamily business strategy change that resulted in an increase in the volume of fully guaranteed securitizations.

n    Investments net interest income

l    3Q 2025 vs. 3Q 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    3Q 2025 vs. 3Q 2024 and YTD 2025 vs. YTD 2024 - Decreased due to lower expense related to debt in hedge accounting relationships.

Freddie Mac 3Q 2025 Form 10-Q6

Management's Discussion and AnalysisConsolidated Results of Operations

Net Interest Yield Analysis