Agency issuance of mortgage-backed securities rose for the fourth month in a row. The Government National Mortgage Association was responsible for the lion’s share of the latest improvement, while activity at the Federal Home Loan Mortgage Corp. declined.
Fixed-rate issuance of Fannie Mae, Freddie Mac and Ginnie Mae MBS was $94.9 billion during July, higher than $92.8 billion the prior month. The statistics are based on data reported by eMBS.
Volume has risen each month since March.
Agency issuance was $163.8 billion in July 2009. From January through July, issuance totaled $637.1 billion.
Volume at Fannie rose to $37.5 billion from $36.2 billion in June and $76.8 billion in July 2009. From Jan. 1 to July 31, issuance at the Washington, D.C.-based company was $251.2 billion.
Ginnie’s activity was even stronger, rising to $32.3 billion from June’s $30.2 billion. But the government-owned corporation’s issuance was also down substantially from $44.2 billion a year ago. Year-to-date volume was $203.4 billion
McLean, Va.-based Freddie’s fixed-rate issuance fell to $25.1 billion from $26.4 billion a month earlier and $42.7 billion a year earlier. Through July 31, volume at Freddie was $182.5 billion.
