Freddie Mac reported today that its total portfolio
increased at an annualized rate of 0.7 percent in October compared to 0.8
percent in September. One year ago the
portfolio decreased by 0.8 percent from the previous month.
The corporation purchased $9.19 billion in mortgages during
the month, less than half the $18.84 billion purchased in September while
liquidations totaled $10.4 billion compared to $10.8 billion a month
earlier. The net amount of mortgage-related
investment portfolio mortgage purchases was $1.66 billion, down from the $4.6
billion in purchases the previous month. The Total value of the portfolio decreased by
21.6 percent to $770.1 billion. One year
ago the value of the mortgage-related investments portfolio was $765 billion.
Under an agreement with the Department of the Treasury
Freddie Mac's retained portfolio is capped at $900 billion until the end of
this year when it must begin to decrease at the rate of 10 percent each year
until it reaches $250 billion.
Freddie Mac purchased or issued $32.2 billion in loans for
its total portfolio; in September that figure was $32.9 billion. $28.8 billion in mortgages were liquidated,
down from $31.2 billion for an ending balance of $2,243,920 billion, a net
increase of $1.2 billion for the month.
One year ago the total portfolio was valued at $2,194,895 billion.
The refinance-loan purchase and guarantee volume was down
from $21.4 billion in September to $18.0 billion last month.
Single family mortgage delinquencies of 90 days or more
including foreclosures rose again to 3.54 percent. This was 21 basis points higher than in
September. Within that figure the delinquency
rate for non-credit enhanced SFR mortgages was 2.7 percent (up from 2.6
percent) and for credit enhanced the rate was 7.4 percent (compared to 6.9
percent). One year ago the single family rate was 1.34 percent. The multifamily rate was 0.12 percent, up one
basis point. One year ago the rate of delinquencies
in the multi-family portfolio was 0.01 percent.
The measure of Freddie Mac's exposure to changes in
portfolio market value (MPVS-L) averaged $472 million in October compared to
$566 million in September. The duration
gap was unchanged at 0 months.