Freddie Mac reported this week that its total mortgage portfolio increased
at an annualized rate of 25.7 percent in October compared to a 17.5 percent
gain in September. The portfolio balance at the end of the period was $2.625
trillion compared to $2.579 trillion the prior month and $2.301 trillion a year
earlier. The growth rate for the year to date is 15.2 percent.
Purchases and Issuances totaled $137.285 billion and Sales were ($1.706)
billion. The September numbers were $114.386 billion and ($3.064) billion,
Single-family refinance loan purchase and guarantee volume was $89.7 billion
in October compared to $70.9 billion in September,
representing a 71 percent share of total single-family mortgage portfolio
purchases and issuances compared to 69 percent the previous month.
Purchases in Freddie Mac’s Mortgage Related Investments Portfolio totaled $109.487
billion for the month compared to $93.820 billion during the prior period.
Liquidations were ($2.045) billion and ($2.347) billion for October and September
respectively and Sales for the two periods were ($114.161) and ($89.529)
billion. The ending balance in the portfolio was $191.457 billion, compared to $198.176
billion in September and $216.813 billion in October 2019.
The Mortgage Related Investments portfolio declined by 40.7 percent compared
to growth of 11.4 percent a month earlier. The annualized growth in October 2019
was a negative 25.9 percent.
The ending balance of the Mortgage Related Investments Portfolio was
composed of $78.959 billion in Mortgage Related Securities, Mortgage Loans
valued at $107.934 billion, Non-Agency, non-Freddie Mac Mortgage-Related
Securities at $1.455 billion; and Agency non-Freddie Mac Mortgage related
securities of $3.109 billion. Mortgage related securities and other guarantee
commitments increased at an annualized rate of 26.1 percent in October compared
to 18.6 percent in September.
Freddie Mac’s single-family delinquency
rate decreased from 3.04 percent in September to 2.89 percent in October. The
multi-family delinquency rate increased 1 basis point to .14 percent.
Freddie Mac said the measure of its exposure to changes in portfolio value averaged
$10 million in October compared to $103 million in September.