federal home loan mortgage corp or freddie mac on tuesday posted a significant decline in profit for the third quarter of the year with revenue falling amid worsening housingmarket conditions the governmentbacked housingfinance company said net income fell to 113 billion or 6 cents a share compared with 291 billion or 0 cents a share a year earlier revenue fell to 518 billion from 525 billion for the prior year net interest income increased to 455 billion from 442 billion a year earlier singlefamily revenue rose to 442 billion from 396 billion in the yearearlier period the delinquency rate declined to 067 from 146 a year ago as the number of loans in forbearance declined freddie mac said its provision for credit losses in the quarter was 18 billion up from 300 million in the prior quarter driven by a significant deterioration in the housing market it added