v3.25.2
Debt (Tables)
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Table - Total Debt
The table below summarizes the balances of total debt on our condensed consolidated balance sheets.
Table 7.1 - Total Debt
(In millions)
June 30, 2025December 31, 2024
Debt of consolidated trusts$3,155,397 $3,122,941 
Debt of Freddie Mac:
Short-term debt
21,218 14,675 
Long-term debt
172,659 167,333 
Total debt of Freddie Mac193,877 182,008 
Total debt
$3,349,274 $3,304,949 
Table - Debt of Consolidated Trusts
The table below summarizes the debt of consolidated trusts based on underlying loan product type.
Table 7.2 - Debt of Consolidated Trusts
June 30, 2025December 31, 2024
(Dollars in millions)
Contractual
Maturity
UPB
Carrying Amount(1)
Weighted
Average
Coupon(2)
Contractual
Maturity
UPB
Carrying Amount(1)
Weighted
Average
Coupon(2)
Single-Family:
20-and 30-year or more, fixed-rate2025 - 2061$2,736,983 $2,769,675 3.46 %2025 - 2061$2,701,936 $2,736,057 3.34 %
15-year or less, fixed-rate2025 - 2040276,921 280,261 2.38 2025 - 2040291,054 294,875 2.30 
Adjustable-rate and other2025 - 205523,838 24,112 4.45 2025 - 205522,861 23,224 4.42 
Total Single-Family3,037,742 3,074,048 3,015,851 3,054,156 
Multifamily2025 - 205582,859 81,349 3.70 2025 - 205470,130 68,785 3.58 
Total debt of consolidated trusts$3,120,601 $3,155,397 $3,085,981 $3,122,941 
(1)Includes $2.5 billion and $2.0 billion as of June 30, 2025 and December 31, 2024, respectively, of debt of consolidated trusts that represents the fair value of debt for which the fair value option was elected.
(2)The effective interest rate for debt of consolidated trusts was 3.12% and 3.01% as of June 30, 2025 and December 31, 2024, respectively.
Table - Short-term Debt
The table below summarizes the balances and effective interest rates for our short-term debt (debt with original maturities of one year or less).
Table 7.3 - Short-Term Debt
(Dollars in millions)June 30, 2025December 31, 2024
Par value$21,366 $14,716 
Carrying amount21,218 14,675 
Weighted average effective rate4.31 %4.59 %
Table - Long-term Debt
The table below summarizes our long-term debt.
Table 7.4 - Long-Term Debt
June 30, 2025December 31, 2024
(Dollars in millions)Contractual MaturityPar Value
Carrying Amount(1)
Weighted
Average
Effective Rate(2)
Contractual MaturityPar Value
Carrying Amount(1)
Weighted
Average
Effective Rate(2)
Fixed-rate(3)
 2025 - 2054 $124,173 $121,423 3.18 %2025 - 2054$130,965 $126,815 3.09 %
Variable-rate(4)
 2025 - 2035 47,075 47,067 4.99 2025 - 203435,906 35,893 5.16 
Zero-coupon 2025 - 2039 4,748 3,354 6.25 2025 - 20394,748 3,254 6.22 
Other(5)
 2028 - 2053786 815 10.17 2025 - 20531,324 1,371 10.90 
Total long-term debt$176,782 $172,659 3.76 $172,943 $167,333 3.65 
(1)Represents par value, net of associated discounts or premiums and issuance costs. Includes $0.2 billion and $0.3 billion at June 30, 2025 and December 31, 2024, respectively, of long-term debt that represents the fair value of debt for which the fair value option was elected. Includes hedge-related basis adjustments.
(2)Based on carrying amount. Excludes hedge-related basis adjustments.
(3)Includes $108.8 billion and $112.6 billion of callable debt as of June 30, 2025 and December 31, 2024, respectively.
(4)Includes $1.3 billion of callable debt as of both June 30, 2025 and December 31, 2024.
(5)Includes STACR debt notes, SCR debt notes, and IO debt.
Table - Contractual Maturity of Long-Term Debt
The table below summarizes contractual maturities of long-term debt securities at June 30, 2025.
Table 7.5 - Contractual Maturities of Long-Term Debt(1)
(In millions)Par Value
2025$34,836 
202643,798 
202725,410 
202816,429 
202918,400 
Thereafter37,123 
Total$175,996 
(1)Excludes $0.7 billion of STACR debt notes and $0.1 billion of SCR debt notes. Contractual maturities of these debt securities are not presented because they are subject to prepayment risk, as their payments are based upon the performance of a pool of mortgage assets that may be prepaid by the related mortgage borrowers at any time generally without penalty.