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Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 12.9 percent in June compared to an 8.6 percent gain in May. The portfolio balance at the end of the period was $3.021 trillion compared to $2.980 trillion the prior month and $2.477 trillion a year earlier. Purchases and Issuances totaled $92.609 billion, and Sales were ($1.369) billion. The May numbers were $91.739 billion, and ($1.292) billion, respectively. Single-family refinance loan purchase and guarantee volume was $50.9 billion in June compared to $57.1 billion in May, representing a 59 percent share of total single-family mortgage portfolio purchases and issuances, down from 66 percent the previous month. Purchases in Freddie Mac's Mortgage Related Investments Portfolio totaled $61
Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 12.9 percent in June compared to an 8.6 percent gain in May. The portfolio balance at the end of the period was $3.021 trillion compared to $2.980 tri... (read more)
Despite newly lower interest rates, mortgage applications were lower during the week ended July 30. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan application volume, was 1.7 percent lower on a seas... (read more)
“Why was the mortgage so depressed? Because it was a loan.” Yes, cutting-edge humor like that is why you read this commentary. No MLO should be depressed, especially when it comes to this rate environment. The yield on the 10-year is very... (read more)
Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc.