Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 27.7 percent in August compared to a 20.0 percent gain in July. The portfolio balance at the end of the period was $2.533 trillion compared to $2.476 trillion the prior month and $2.275 trillion a year earlier. The growth rate for the year to date is 13.0 percent.
Purchases and Issuances totaled $131.140 billion and Sales were ($898) billion. The July numbers were $116.83 billion and ($3.803) billion, respectively.
Single-family refinance loan purchase and guarantee volume was $87.200 billion in August compared to $77.700 billion in July, representing a 70 percent share of total single-family mortgage portfolio purchases and issuances compared to 72 percent the previous month.
Purchases in Freddie Mac's Mortgage Related Investments Portfolio totaled $94.753 billion for the month compared to $86.189 billion during the prior period. Liquidations were ($2.405) billion and ($2.318) billion for August and July respectively and Sales for the two periods were ($89.432) and ($84.665) billion. The ending balance in the portfolio was $196.232 billion, compared to $193.316 billion in July and $218.630 billion in August 2019.
The Mortgage Related Investments portfolio grew 18.1 percent compared to a decline of (4.9) percent a month earlier. The annualized growth in August 2019 was (1.3) percent.
The ending balance of the Mortgage Related Investments Portfolio was composed of $84.724 billion in Mortgage Related Securities, Mortgage Loans valued at $106.697 billion, Non-Agency, non-Freddie Mac Mortgage-Related Securities at $1.486 billion; and Agency non-Freddie Mac Mortgage related securities of $3.225 billion. Mortgage related securities and other guarantee commitments increased at an annualized rate of 23.8 percent; a half point increase compared to the previous month.
Freddie Mac's single-family delinquency rate increased from 3.12 percent in July to 3.17 percent in August. The rate has risen by 236 basis points since May. The multi-family delinquency rate increased to 13 percent from 0.9 percent month-over-month.
Freddie Mac said the measure of its exposure to changes in portfolio value averaged $134 million in August compared to $80 million in July.