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Fannie Mae Surges with Housing Support | Real Estate News
Fannie Mae just smashed Q2 earnings with $4 billion in net income—up 20% from last year—driven by a surge in homebuying activity and their 34th straight profitable quarter. Their net worth now tops $116 billion, and they injected $125 billion into the mortgage market, fueling 201,000 home purchases and 117,000 refinances. Nearly half of first-time buyers used Fannie Mae financing, and over 21,000 homeowners stayed in their homes thanks to their programs—all while rates stayed stubbornly high. They also boosted their credit loss reserves to $485 million, reflecting softer property values and…
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