Freddie Mac's Portfolio Grew 4.2 Percent in 2018

Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 6.6 percent in December, down from 6.8 percent the previous month.  The portfolio balance at the end of the period was $2.182 trillion compared to $2.170 trillion at the end of November and $2.094 trillion a year earlier.  

Purchases and Issuances totaled $35.155 billion, bringing the 2018 year-end total to 395.601 billion. The full year 2017 total was $428.786. Sales were ($2.351) billion and Liquidations ($20.867) billion in December and totaled ($24.729) and ($283.215) billion respectively in 2018.  The annualized growth rate for 2018 through the end of December was (4.2) percent compared to (4.1) percent for all of 2017. 

Freddie Mac had purchases of $29.506 billion for the month and $296.649 billion for the year.  Liquidations were ($2.309) billion and Sales were ($31.078) billion.  The year-end totals are ($35.181) billion and ($296.843) billion respectively. 

The ending balance of the Mortgage Related Investments Portfolio was composed of $120.148 billion in Mortgage Related Securities, Mortgage Loans valued at $91.618 billion, Non-Agency, non-Freddie Mac Mortgage-Related Securities at $2.335 billion; and Agency non-Freddie Mac Mortgage related securities of $3.979 billion. Mortgage related securities and other guarantee commitments increased at an annualized rate of 7.9 percent compared to 10.2 percent in November.

Freddie Mac's single-family delinquency rate decreased from 70 basis points in November to 69 basis points in December. The rate was 108 basis points in December 2017. The rate for credit-enhanced Primary Mortgage Insurance loans increased from 85 to 86 basis points while the non-credit enhanced rate dropped 3 basis point to 83.  The multi-family delinquency rate was 0.01 percent, unchanged from the preceding eight months.  The rate in December 2017 was 0.02 percent.