Current Issue
Mortgage giant Freddie Mac (FRE: 1.20 +3.45%) recorded $32.18bn of mortgage purchases and issuances in October, down from $32.93bn a month earlier as the volume of refinance loan purchases fell.
October’s purchases and issuances bring the 2009 year-to-date total to $476.35bn, according to a monthly summary of the agency’s portfolio.
Purchase and guarantee volume of refinance loans slipped nearly 16% to $18bn from $21.4bn in September.
The total mortgage portfolio increased at an annualized rate of 0.7% in October. The aggregate unpaid principal balance of Freddie’s mortgage-related investments portfolio slipped to $770.1bn from $784.2bn at the end of September.
The single-family delinquency rate rose 21 bps to 3.54% in October, while the delinquency rate for multifamily loans inched up 1 bp to 0.12%. At the same time last year, 1.34% of the single-family and 0.01% of the multifamily portfolio was delinquent.
Write to Diana Golobay.
