Freddie Mac reported a decrease in net income and revenues for Q4 2025 compared to the prior year, primarily due to lower non-interest income. Despite this, the company maintained a strong financial position, increased its net worth, and continued to support housing affordability and supply.
Net income for full-year 2025 was $10.7 billion, and net worth increased to $70.4 billion.
positiveFull-year 2025 net revenues were $23.3 billion, with net interest income up 8% year-over-year due to portfolio growth and lower funding costs.
positiveFinanced 1.7 million families in 2025, with a significant portion of single-family dwellings and rental units affordable to low- and moderate-income households.
positiveNew business activity for the full year 2025 increased 12% year-over-year to $389 billion.
positiveNet income for Q4 2025 decreased 14% year-over-year to $2.8 billion, primarily driven by lower net revenues.
negativeNet revenues for Q4 2025 decreased 9% year-over-year to $5.8 billion, driven by a significant drop in non-interest income from $1.3 billion to $0.2 billion.
negativeMultifamily segment net income decreased 58% year-over-year to $0.3 billion, with net revenues down 24% year-over-year.
negativeThe Multifamily segment experienced a provision for credit losses of $0.3 billion in Q4 2025, driven by a credit reserve build due to strategy changes and deteriorating loan performance.
negativeSerious delinquency rate in the Single-Family segment increased to 0.59% from 0.57% in the prior quarter.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Single-Family | N/A | — | — | — |
Multifamily | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Freddie Mac’s 2025 results reflect our relentless focus on driving efficiencies to lower the cost of housing and restore the American Dream for families nationwide.
We delivered solid earnings, managed risk effectively, and identified new ways to increase supply and support affordability.
Our investments in technology have streamlined the origination process, reduced unnecessary friction, and enabled our lenders to do business with us more cost-effectively.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.