WASHINGTON • Freddie Mac earned $5 billion from April through June, the seventh straight profitable quarter for the mortgage giant.
The second-quarter gain reported Wednesday compares with net income of $3 billion in the same period of 2012. Freddie says its earnings were due largely to increased profits from investments made to hedge against rising interest rates. That helped offset losses on mortgages during the quarter.
Freddie, based in McLean, Va., will pay a dividend of $4.4 billion to the...
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