Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 23.7 percent in August compared to an 8.4 percent gain in July. The portfolio balance at the end of the period was $3.093 trillion compared to $3.033 trillion the prior month and $2.575 trillion a year earlier. Purchases and Issuances totaled $119.682 billion, and Sales were ($277) billion. The July numbers were $85.899 billion, and ($1.110) billion, respectively.

Single-family refinance loan purchase and guarantee volume was $65.7 billion in August compared to $40.5 billion in July, representing a 58 percent share of total single-family mortgage portfolio purchases and issuances, up from 50 percent the previous month.

Purchases in Freddie Mac's Mortgage Related Investments Portfolio totaled $70.749 billion for the month compared to $51.881 billion during the prior period. Liquidations were ($1.122) billion and ($1.243) billion for August and July, respectively and Sales for the two periods were ($66.193) and ($53.403) billion. The ending balance in the portfolio was $113.903 billion, compared to $110.470 billion in July and $196.232 billion in August 2020.

The annualized growth of the Mortgage Related Investments portfolio was 37.3 percent compared to declines of (29.3) percent in July and growth of 18.1 percent a year earlier. It was the first increase in the portfolio since March.

The $113.903 billion ending balance of the Mortgage Related Investments Portfolio composed of $48.896 billion in Agency Securities, Mortgage Loans valued at $63.726 billion, and Non-Agency Securities at $1.287 billion. Mortgage related securities and other guarantee commitments increased at an annualized rate of 23.0 percent in August compared to 11.4 percent in July.

Freddie Mac's single-family delinquency rate decreased from 1.74 percent in July to 1.62 percent in August. It was at 3.17 percent in August 2020. The multi-family delinquency rate dropped 3 basis points to .12 percent.   

Freddie Mac said the measure of its exposure to changes in portfolio value averaged $81 million in August compared to $63 million in July.