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Freddie Mac increased mortgage purchases in October

Freddie Mac purchased or securitized $50 billion worth of mortgage loans in October, up from $39 billion in September and $33 billion a year earlier.

The government-sponsored enterprise noted in its October volume summary report that its mortgage securities and guarantee commitments increased at an annualized rate of 0.3% in October.

The GSE's single-family refinance loan purchase and guarantee volume hit $37.2 billion in October, representing 74% of total mortgage portfolio purchases and issuances.

The number of loan modifications completed during the same month reached 6,988, compared to 6,269 mortgages in September.

Total modifications for the 10-month period ending in October hit 56,671.


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