Freddie Mac's Portfolio up 3.2 Percent for Year

Freddie Mac reported today that its total mortgage portfolio increased at an annualized rate of 3.5 percent in July.  The portfolio balance at the end of the period was $2.136 trillion compared to $2.130 trillion at the end of June and $2.044 trillion at the end of July 2017.

Purchases and Issuances totaled $32,721 billion, bringing the 2018 year-to-date total to $215.891 billion, Sales were ($1.028) billion and Liquidations ($25.413) billion in July and totaled ($12.873) and ($164.198) billion respectively so far this year.  The annualized growth rate for 2018 through the end of July was 3.2 percent and the annualized liquidations rate was (13.4) percent. 

Single-family refinance-loan purchase and guarantee volume was $6.4 billion in July compared to $7.3 billion in June. The refinance share of total single-family mortgage portfolio purchases or issuances fell from 27 to 23 percent. 

The Mortgage Related Investments Portfolio had an ending balance of $244.137 billion, an increase of $7.7 billion or 39.3 percent in the aggregate unpaid principal balance compared to June. The annualized growth rate for the year to date as of July was (6.3) percent.  Freddie Mac had purchases of $24.654 billion for the month and $158.812 billion thus far in 2018.  Liquidations in July were ($3.087) billion and Sales were ($13.821) billion and, for the year, ($20.492) billion and ($147.638) billion respectively. 

The ending balance of the Mortgage Related Investments Portfolio was composed of $132.457 billion in Mortgage Related Securities, Mortgage Loans valued at $101.801 billion, Non-Agency, non-Freddie Mac Mortgage-Related Securities at $5.526 billion; and Agency non-Freddie Mac Mortgage related securities of $4.353 billion. Mortgage related securities and other guarantee commitments increased at an annualized rate of 2.3 percent in July.

Freddie Mac's single-family delinquency rate decreased from 0.82 percent in June to 0.78 percent in July and was down 7 basis points from the rate the previous July.  The rate for credit-enhanced Primary Mortgage Insurance loans declined by 8 basis points month-over-month and the non-credit enhanced rate was down 4 basis points to .96 percent and 0.92 percent respectively. The multi-family delinquency rate was 0.01 percent, unchanged from the prior three months and from June 2017.