Good the quarter, morning, housing net worth for muted $XX high you and our deliver joining our billion. Mac's second relatively call Freddie the and and thank the sales. to to We quarter second continued despite to rates review performance. increased company earned results In $X.X steady mortgage in quarter, billion
We and moderate financed first-time families. the the XXX,XXX low of and to XX% home purchases income primary were home purchases. XX% affordable were homebuyers,
units XX% On were approximately the Multifamily similarly side, eligible of we affordable. financed rental XX,XXX
historical note we on. One move before
second $XXX most in nearly Mac. Freddie issuance only trillion is the quarter GSE since working. of to traded, of finance represents Security X the the and housing of the has in to our half it treasuries. agency second size with and foster of introduction inception, years liquidity UMBS we UMBS partners, standardization UMBS the marked which second came the UMBS. Together Mortgage-Backed U.S. greater in or U.S. Uniform in Today, liquidity MBS the the system, is The market, quarter Since designed market and the for from been
our at take a Now results in look more let's detail.
billion million a X% to the earned decrease primarily the year-over-year. or of a had by credit quarter. in net decrease in quarter, prior we compared this noted, driven we quarter release reserve income year build This was of reserve this credit $X.X As $XXX
debt in continued was This ] billion, Second relationships. the lower which grew up $X.X and year-over-year. to by [ net quarter portfolio, driven X% Single-Family X% and growth hedge interest increase mortgage related accounting year-over-year, was income expense
second increase net Noninterest due prior an billion, gains. the guarantee and higher year $XXX income or for from quarter million $X.X the quarter, income primarily investment to XX% was higher of
provision credit driven quarter, was by for attributable Our to credit prices. in both business compared million builds in $XXX primarily credit in the which segments losses year, for reserve business this prior our to reserve modest a Single-Family was in improvement home release
of increase quarter total mortgage a the end trillion, $X.X Our portfolio was this at X% year-over-year.
$XXX million $X.X lower quarter. Single-Family continued accounting XX% and business relationships. or for prior Turning to the our billion benefited segments. a increase increased billion of in was or quarter, net the income, X% from income year reported to of down primarily year-over-year. business and our Single-Family growth million This The million net interest from net related $XXX expense individual revenues $XX which or by $X.X in portfolio mortgage Single-Family debt increase driven hedge X%
quarter to revenues. $XXX income year million to interest from Higher increase $XXX also noninterest rate contributed risk Single-Family the Single-Family Noninterest the to from was management in due impacts up million activities. net prior income
and Our a mortgage for to build modest due credit an credit quarter, this higher expense new primarily for provision of rates. $XXX losses million Single-Family acquisitions reserve impact was the of
was period. quarter release that during year in house due The primarily of reserve credit improvement by a prior to was which the in provision benefit a driven $XXX million, prices
next growth subsequent subsequent and X.X% assumes and X.X% This increase XX over Our respectively. quarter, X.X% XX next our XX current the and at of assumed of the house the XX over price last forecast forecast changed months from X.X% an months. end over months, which
the basis the credit continued end for this points, from down low their delinquency points quarter XQ families prior of helped and down XX be end the second second XX,XXX and serious ratio to The and XXXX. points Single-Family through point was rate basis quarter from In year-over-year. quarter, the homes allowance at basis historically X basis losses down points coverage XQ XX Single-Family up The to of quarter, workouts. declined X the at we from basis basis remain approximately X points in loan X XXXX
loan-to-value the the trillion, our strong, mortgage the X% XX% XXX. portfolio credit the weighted at and average Single-Family average remained current ratio quarter Single-Family score Credit year-over-year. portfolio Our at characteristics weighted end $X.X up of of current with at was
At enhancement. some form of of had the end the quarter, our Single-Family of portfolio credit XX%
from this billion $XX totaled billion activity quarter, $XX XXXX. up business XQ New
of purchase of the activity total XQ new accounted during homebuyers estimated quarter. on XXXX. XX-year our Refinance and XX% continue for on the loan-to-value up new First-time purchase of points. score activity. rate XX%, average at rates weighted basis mortgage impact fee X.XX% new represented business XXX, from loans. peaked ended the average quarter and X.XX% original our of purchases this the home charged The at The end while XQ activity end guarantee and X.XX% weighted the refinance business average and original the new XX to credit XX% X.XX%, XXXX mortgage was Higher at was quarter both Single-Family was at
less of net of by reported or decrease of higher noninterest rate by XX% fair income, year-over-year, driven rates interest yields lower quarter. primarily million, primarily income to as from changes mortgage by from portfolio on net XX% which primarily $XX driven declined segment offset impacts million on was higher million, risk or growth. interest result continued $XXX a value management activities This $XXX and by from guarantee down driven Moving offset year-over-year, year up was The income higher income decline the Multifamily. which prior loans The noninterest and million spreads. $XXX income by in partially XX% favorable interest was
prior credit The million for this quarter. expense in $XXX quarter losses year was Multifamily million provision an $XX of versus the
The for XX,XXX this $XX for low-income billion units billion the rental was the activity business second prior $X financing business up quarter, were of new Multifamily to affordable provided quarter, families. Multifamily which XX% Our quarter. from
XX% billion. the of XX portfolio coverage. XX these enhancements end and quarter. at X% XX driven basis Approximately basis at rate basis The the was This in points covered to of of up our Multifamily the end mortgage had XX% mortgage portfolio. primarily of delinquency balance delinquent credit points, of portfolio the quarter the end The by at credit Multifamily increased delinquency $XXX Multifamily the year-over-year versus by loans loans was points June floating XXXX. rate loans enhancement increase was small
increase representing our $XX.X front, to worth On at of a the year-over-year. increased XX% the billion end capital the net quarter,
its managed Freddie fulfill liquidity, stability of increased you continued into and Thank the for kind and risk Mac delivered vital the renters, mission: performance the joining us our can net to future. worth, today. mission forward buyers of across providing in steady affordability financial our and our We conclusion, lenders carry country. support In home that
