Freddie Mac's YTD Purchases Top $1 Trillion

By: Jann Swanson •

Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 29.5 percent in November compared to a 25.7 percent gain in October. The portfolio balance at the end of the period was $2.689 trillion compared to $2.625 trillion the prior month and $2.302 trillion a year earlier. The growth rate for the year to date is 16.8 percent.

Purchases and Issuances totaled $155.291 billion and Sales were ($4.080) billion. The October numbers were $137.285 billion and ($1.706) billion, respectively.

Single-family refinance loan purchase and guarantee volume was $107.3 billion in November compared to $89.7  billion in October, representing a 74 percent share of total single-family mortgage portfolio purchases and issuances compared to 71 percent the previous month.

Purchases in Freddie Mac's Mortgage Related Investments Portfolio totaled $117.106 billion for the month compared to $109.487 billion during the prior period. Liquidations were ($2.090) billion and ($2.045) billion for November and October respectively and Sales for the two periods were ($113.522) and ($114.161) billion. The ending balance in the portfolio was $192.951 billion, compared to $191.457 billion in October and $204.545 billion in November 2019.

The Mortgage Related Investments portfolio increased by 9.4 percent compared to a decline of 40.7 percent a month earlier. The annualized growth in November 2019 was a negative 67.9 percent.

The ending balance of the Mortgage Related Investments Portfolio was composed of $72.798 billion in Mortgage Related Securities, Mortgage Loans valued at $115.962 billion, Non-Agency, non-Freddie Mac Mortgage-Related Securities at $1.435 billion; and Agency non-Freddie Mac Mortgage related securities of $2.756 billion. Mortgage related securities and other guarantee commitments increased at an annualized rate of 27.2 percent in November compared to 26.1 percent in October.  

Freddie Mac's single-family delinquency rate decreased from 2.89 percent in October to 2.75 percent in November. The multi-family delinquency rate increased 2 basis points to .16 percent.    

Freddie Mac said the measure of its exposure to changes in portfolio value averaged $118 million in November compared to $10 million in October.