Fannie Mae reports Q3 results
Nov. 08, 2022 7:36 AM ETFederal National Mortgage Association (FNMA)By: Gaurav Batavia, SA News Editor
- Fannie Mae press release (OTCQB:FNMA): Q3 net income of $2.44B.
- Revenue of $7.22B (+2.0% Y/Y).
- Acquired approximately 285,000 home purchase loans and 99,000 singlefamily refinance loans during the third quarter of 2022
- Approximately 143,000 units of rental housing financed in the third quarter of 2022, a significant majority of which were affordable to households earning at or below 120% of area median income, providing support for both workforce and affordable housing
- The U.S. weekly average 30-year fixed-rate mortgage rate increased from 5.70% as of the end of the second quarter of 2022 to 6.70% as of the end of the third quarter of 2022