Freddie Mac reported this week that its total mortgage portfolio increased
at an annualized rate of 16.1 percent in January compared to a 22.4 percent
gain in December. The portfolio balance at the end of the period was $2.777
trillion compared to $2.740 trillion the prior month and $2.339 trillion a year
Purchases and Issuances totaled $120.128 billion and Sales were ($.588)
billion. The December numbers were $129.639
billion and ($1.330) billion, respectively.
Single-family refinance loan purchase and guarantee volume was $84.5 billion
in January compared to $77.6 billion in December, representing a 73 percent
share of total single-family mortgage portfolio purchases and issuances, up
from 70 percent the previous month.
Purchases in Freddie Mac’s Mortgage Related Investments Portfolio totaled $92.263
billion for the month compared to $111.509 billion during the prior period.
Liquidations were ($1.650) billion and ($1.924) billion for January and December
respectively and Sales for the two periods were ($100.425) and ($120.351)
billion. The ending balance in the portfolio was $172.372 billion, compared to
$182.184 billion in December and $202.175 billion in January 2020.
The Mortgage Related Investments portfolio declined 64.6 percent compared to
a decrease of (67.0) a month earlier. The annualized growth in January 2020 was
The ending balance of the Mortgage Related Investments Portfolio was
composed of $59.478 billion in Mortgage Related Securities, Mortgage Loans
valued at $108.806 billion, Non-Agency, non-Freddie Mac Mortgage-Related
Securities at $1.400 billion; and Agency non-Freddie Mac Mortgage related
securities of $2.688 billion. Mortgage related securities and other guarantee
commitments increased at an annualized rate of 17.8 percent in January compared
to 25.9 percent in December.
Freddie Mac’s single-family delinquency
rate decreased from 2.64 percent in December to 2.58 percent in January. The
multi-family delinquency rate was unchanged at 0.16 percent.
Freddie Mac said the measure of its exposure to changes in portfolio value
averaged $17 million in January compared to $72 million in December. Maximum
exposure to Fannie Mae-issued collateral that was included in Freddie
Mac-issued resecuritizations was approximately $89.7 billion.