Freddie Mac reported earning $2.16 billion in its fourth quarter earnings statement announced this week and a $6.38 billion profit for all of 2015, slightly less than the $7.69 billion earned the previous year. But its net interest income, which includes guaranty fee income, rose 4.8 percent to $14.95 billion.Unlike in the third quarter, when the GSE announced a $475 million loss due to hedging activities, this time around hedging losses were a non-event. Overall, Freddie booked $744 million in gains on its derivatives in the fourth quarter. Freddie noted that the shift was primarily due to an increase in long-term interest rates during the period as opposed to a decrease as witnessed in the third quarter.