Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 20.0 percent in July compared to a 14.2 percent gain in June. The portfolio balance at the end of the period was $2.476 trillion compared to $2.436 trillion the prior month and $2.251 trillion a year earlier. The growth rate for the year to date is 10.7 percent.

Purchases and Issuances totaled $116.383 billion and Sales were ($3.803) billion. The June numbers were $94.331 billion and ($1.880) billion, respectively.

Single-family refinance loan purchase and guarantee volume was $77.700 billion in July compared to $65.500 billion in June and representing a 72 percent share of total single-family mortgage portfolio purchases and issuances compared to 78 percent the previous month.

Purchases in Freddie Mac's Mortgage Related Investments Portfolio totaled $86.189 billion for the month compared to $79.605 billion during the prior period. Liquidations were ($2.318) billion and ($2.264) billion for July and June respectively and Sales for the two periods were ($84.665) and ($71.127) billion. The ending balance in the portfolio was $193.316 billion, compared to $194.110 billion in June.

The Mortgage Related Investments portfolio growth declined by (4.9) percent compared to growth of 39.7 percent a month earlier. The annualized growth in June 2019 was (0.6) percent.

The ending balance of the Mortgage Related Investments Portfolio was composed of $91.855 billion in Mortgage Related Securities, Mortgage Loans valued at $96.679 billion, Non-Agency, non-Freddie Mac Mortgage-Related Securities at $1.498 billion; and Agency non-Freddie Mac Mortgage related securities of $3.284 billion. Mortgage related securities and other guarantee commitments increased at an annualized rate of 23.3 percent, up from 9.5 percent the previous month.

Freddie Mac's single-family delinquency rate increased from 2.48 percent June to 3.12 percent in July. The rate has risen by 231 basis points since May. The multi-family delinquency rate decline from 0.10 percent to 0.9 percent.   

Freddie Mac said the measure of its exposure to changes in portfolio value averaged $80 million in July compared to $51 million in June.