NEW YORK - Freddie Mac on Tuesday outlined its expectations for its business next year at its biennial conference for investors and equity analysts.

Freddie said it expects its mortgage portfolio to grow faster than the residential mortgage debt outstanding next year. The government-sponsored enterprise also expects the average guarantee fee rate to be generally stable.

Credit expenses will increase modestly from the historically low levels reported for this year, Freddie said.

The company expects its net retained portfolio to grow 20% next year, to $60 billion, and its fully taxable equivalent net interest yield to be generally stable.

Freddie said it expects administrative expenses to grow at a rate below the total mortgage portfolio growth rate. In addition, the company anticipates nominal common share repurchases.

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