Freddie Mac continues to shrink its mortgage portfolio, with its total mortgage portfolio falling at an annual rate of 2% in November.

The GSE’s single-family refinance loan purchase and guarantee volume hit $11 billion last month, with refis still making up 53% of the GSE’s total single-family mortgage portfolio.

Relief refis made up 40% of the single-family refi volume in 2013.

Loan modifications last month hit 8,124, with the 11-month total for 2013 reaching 76,457.

The aggregate unpaid principal balance of the GSE’s mortgage-related investments fell by approximately $15.9 billion in November.

The GSE’s single-family delinquency rate also declined from 2.48% in October to 2.43% in November.

Freddie Mac’s year-to-date purchases or issuances tallied $427 billion year-to-date, with November purchases and issuances reaching $22.6 billion, up from $22.379 billion.

Still, that figure is well below January levels when issuances and purchases totaled $43.1 billion.