Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 17.5 percent in September compared to a 27.7 percent gain in August. The portfolio balance at the end of the period was $2.570 trillion compared to $2.533 trillion the prior month and $2.295 trillion a year earlier. The growth rate for the year to date is 13.7 percent.

Purchases and Issuances totaled $114.386 billion and Sales were ($3.064) billion. The August numbers were $131.140 billion and ($898) billion, respectively.

Single-family refinance loan purchase and guarantee volume was $70.9 billion in September compared to $87.200  billion in August, representing a 69 percent share of total single-family mortgage portfolio purchases and issuances compared to 70 percent the previous month.

Purchases in Freddie Mac's Mortgage Related Investments Portfolio totaled $93.820 billion for the month compared to $94.753 billion during the prior period. Liquidations were ($2.347) billion and ($2.405) billion for September and August respectively and Sales for the two periods were ($89.529) and ($89.432) billion. The ending balance in the portfolio was $198.176 billion, compared to $196.232 billion in August and $221.601 billion in September 2019.

The Mortgage Related Investments portfolio grew 11.4 percent compared to growth of 18.1 percent a month earlier. The annualized growth in September 2019 was 16.3 percent.

The ending balance of the Mortgage Related Investments Portfolio was composed of $87.212 billion in Mortgage Related Securities, Mortgage Loans valued at $105.378 billion, Non-Agency, non-Freddie Mac Mortgage-Related Securities at $1.470 billion; and Agency non-Freddie Mac Mortgage related securities of $4.116 billion. Mortgage related securities and other guarantee commitments increased at an annualized rate of 18.6 in September compared to 23.8 percent in August.  

Freddie Mac's single-family delinquency rate decreased from 3.17 percent in August to 3.04 percent in September. The multi-family delinquency rate was unchanged at .13 percent.    

Freddie Mac said the measure of its exposure to changes in portfolio value averaged $103 million in September compared to $134 million in August.