Freddie Mac reports strong first quarter

05/9/2013 | Reuters

Freddie Mac reported that its first-quarter profits were the second largest in the history of the U.S. government-controlled company. The combination of rising home prices and shrinking numbers of delinquencies was largely responsible for the company's $4.6 billion in income. "The strong rebound in the housing market ... continues to be reflected in our excellent financial performance," CEO Donald Layton said.

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