WASHINGTON (Reuters) - Freddie Mac is at an early stage of eventual credit losses on its home-loan investments even though the market downturn might have hit its mid-point, the mortgage finance source's chief business officer Patti Cook said on Wednesday.

"Credit losses continue to accelerate in our single-family (guarantee) business," Cook told investors on a conference call.

"While we may be roughly half-way through the eventual decline, we are still in the early stages of realized defaults," she said. "Most of the expected (credit) losses are yet to be realized."

(Reporting by Patrick Rucker; Editing by James Dalgleish)