Freddie Mac Portfolio Up 2.3 Percent in September

News

Freddie Mac reported this week that its total mortgage
portfolio increased at an annualized rate of 2.3 percent in September.  The portfolio balance at the end of the period
was $2.151 trillion compared to $2.147 trillion at the end of August and $2.057
trillion a year earlier.  

Purchases and Issuances totaled $31.296 billion, bringing the
2018 year-to-date total to $286.6 billion, Sales were ($1.474) billion and
Liquidations ($25.739) billion in September and totaled ($16.916) and ($215.003)
billion respectively so far this year. 
The annualized growth rate for 2018 through the end of September was 3.4
percent
and the annualized liquidations rate was (13.7) percent. 

Single-family refinance-loan purchase and guarantee volume
was $6.5 billion in September compared to $6.9 billion the prior month. The
refinance share of total single-family mortgage portfolio purchases or
issuances was 27 percent, up from 23 percent in August.   

The Mortgage Related Investments Portfolio had an ending
balance of $227.804 billion, a decrease of $6.7 billion in the aggregate unpaid
principal balance compared to August. The annualized growth rate for the year to
date as of September was (13.5) percent. 
Freddie Mac had purchases of $27.607 billion for the month and $212.057 billion
thus far in 2018.  Liquidations were ($2.907)
billion and Sales were ($27.607) billion and, for the year thus far, ($26.368) billion
and ($211.340) billion respectively. 

The ending balance of the Mortgage Related Investments Portfolio
was composed of $121.636 billion in Mortgage Related Securities, Mortgage Loans
valued at $96.505 billion, Non-Agency, non-Freddie Mac Mortgage-Related
Securities at $5.268 billion; and Agency non-Freddie Mac Mortgage related
securities of $4.395 billion. Mortgage related securities and other guarantee
commitments increased at an annualized rate of 5.0 percent in September.

Freddie Mac’s single-family delinquency rate was unchanged
from August at 0.73 percent and was down 13 basis points from the rate the
previous September.  The rate for
credit-enhanced Primary Mortgage Insurance loans declined by 1 basis point month-over-month
and the non-credit enhanced rate increased by 2 basis points to .89 percent and
0.88 percent respectively. The multi-family delinquency rate was 0.01 percent,
unchanged from the prior five months. 
The rate in September 2017 was 0.03 percent.

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