WASHINGTON — Fannie Mae and Freddie Mac will send taxpayers $8.3 billion in second-quarter profits, an increase of nearly 50 percent, the government-supported mortgage giants said this week.
The companies, which help support the mortgage market, have gotten a boost from the improving housing market, and both said this week that rising interest rates had improved their bottom lines.
Fannie, based in Washington, and Freddie, based in McLean, Va., have returned to the black in recent years, and they are required to hand their profits over to the U.S. Treasury under the terms of a government bailout that rescued the companies during the Great Recession.
