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The Week Ahead: Freddie Mac to Release Q1 Financial Results

FreddieOn Tuesday at 9 a.m. EST, Freddie Mac will hold a conference call to discuss its Q1 2017 financial results. The call will be webcast on the Freddie Mac website as well, and will be replayable for approximately 30 days following the event.

All materials related to the call will be available on the Investor Relations page of the company's website.

Freddie Mac’s previous results, for Q4 2016, showed a net interest income of 14.4 billion for the full year, down 4 percent year-over-year. Q4 alone had a comprehensive income of $3.9 billion, almost half of the full year comprehensive income of $7.1 billion. This was a $1.6 billion increase in comprehensive income for the quarter.

Also, this week, congress will vote on a federal funding bill. On Friday, Congress extended the funding deadline for another week with a vote of 382-30, avoiding a government shutdown over the weekend. The Associated Press (AP) stated that Congress plans on passing the complete funding package sometime this week, which will finance the federal government $1 trillion through September 30, the end of the fiscal year.

“We’re willing to extend things for a little bit more time in hopes that the same sort of progress can be made,” Senate Minority Leader Charles E. Schumer (D-New York) told The Washington Post on Friday morning.

A government shutdown would have slowed the mortgage process and even prevented some buyers from closing, as access to tax information and social security would have been halted during the shutdown.

This Week’s Schedule

Census Bureau Construction Spending report for March, Monday, 10:00 AM EST

AEI National and State Mortgage Risk Indices Update Conference Call, Monday, 11 a.m. EST

Collingwood Managing Director Tom Booker joins Jim Bohannon Radio show, Monday, 11 p.m. ET

Federal Reserve Financial CHOICE Markup, Tuesday, 10 a.m. EST

MBA Mortgage Applications, Wednesday 7 a.m. EST

Freddie Mac Weekly Mortgage Survey, Thursday, 10 a.m. EST

About Author: Seth Welborn

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