Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 13.1 percent in December compared to a 12.0 percent gain in November. The portfolio balance at the end of the period was $3.246 trillion compared to $3.211 trillion the prior month and $2.784 trillion a year earlier. Purchases and Issuances dipped to $94.089 billion from $94.635 billion the prior month and Sales were ($1.467) billion compared to ($503) billion. Over the course of the year Freddie Mac purchased $1.299 trillion in loans.

Single-family refinance loan purchase and guarantee volume was $48.4 billion in December compared to $52.7 billion in November, representing a 58 percent share of total single-family mortgage portfolio purchases and issuances, down from 60 percent in November.

Purchases in Freddie Mac’s Mortgage Related Investments Portfolio totaled $59.468 billion for the month compared to $58.028 billion during the prior period. Liquidations were ($1.194) billion and ($1.109) billion for December and November, respectively and Sales for the two periods were ($53.373) and ($63.350) billion. The ending balance in the portfolio was $111011 billion, compared to $106.110 billion in November and $182.184 billion in December 2020. The annualized growth of the Mortgage Related Investments portfolio was 55.4 percent compared to a loss of (68.6) percent in November and a (67.0) loss a year earlier

The $111.011 billion ending balance of the Mortgage Related Investments Portfolio composed of $45.323 billion in Agency Securities, Mortgage Loans valued at $64.553 billion, and Non-Agency Securities at $1.135 billion. Mortgage related securities and other guarantee commitments increased at an annualized rate of 12.5 percent in December compared to 12.7 percent in November.

Freddie Mac's single-family delinquency rate decreased from 1.32 percent in November to 1.24 percent in December. It was at 2.64 percent a year earlier. The multi-family delinquency rate was down 1 basis point to 0.08 percent.   

Freddie Mac said the measure of its exposure to changes in portfolio value averaged $27 million in December compared to $56 million in November. Its maximum exposure to Fannie Mae-issued collateral included in Freddie Mac-issued resecurizations was approximately $111.2 billion. The prior month it was $108.8 billion.