Freddie Mac expects to post quarterly losses
- Share via
Home mortgage financier Freddie Mac said it would report losses for the third and fourth quarters of 2006, citing interest rates declines.
The government-sponsored company, emerging from a multibillion-dollar accounting scandal, forecast a loss of about $550 million for the third quarter, compared with an $880-million profit a year earlier. During the most recent July-September period, long-term interest rates declined by about half a percentage point. The loss would be in line with analysts’ expectations.
For the fourth quarter, Freddie Mac also expects to report a loss. Executives did not say how high it would be.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
