Freddie Mac single-family delinquency rate edges up
Government-sponsored enterprise Freddie Mac reported Wednesday that its single-family seriously delinquent rate edged up in October, hitting 3.54%, compared to 3.51% in September. At the same time, the multifamily delinquency rate edged down to 0.31% in October from 0.33% in September. The company, which is involved in an ongoing shift from a GSE-driven market to a more privatized mortgage finance system, saw its total mortgage portfolio fall at an annualized rate of 5.2% last month. The single-family, refinance, loan purchase and guarantee volume hit $24.1 billion in October, representing 72% of the GSE's total mortgage portfolio purchases and issuances. In addition, the mortgage-related securities and other guarantees from the GSE fell at an annualized rate of 6.6% during the month of October. In October, Freddie Mac modified 6,571 loans, up from 6,465 loans in September, bringing the 10-month total to 96,697 loan mods. Write to Kerri Panchuk.