Agency issuance has fallen for several months in a row.
Fixed-rate issuance of residential mortgage-backed securities at Fannie Mae fell for the sixth consecutive month, according to data reported by eMBS. November volume came in at $35.4 billion, down from the previous month’s $36.4 billion. Activity was higher, however, than $22.7 billion in November 2008.
The Washington, D.C.-based firm’s year-to-date issuances through Nov. 30 were $719.5 billion.
At Fannie’s government-controlled cousin, Freddie Mac, fixed-rate MBS issuance was down a fraction from October to $25.4 billion. Freddie’s volume was $13.7 billion a year ago.
It was the third consecutive monthly decline for the McLean, Va.-based secondary lender.
Freddie’s issuances from January through November were $424.1 billion.
November volume tumbled to $31.9 billion at Ginnie Mae from $35.0 billion a month earlier. The prior year, issuance was $25.6 billion. Volume has been down at Ginnie for each of the four most recent months.
From Jan. 1 to Nov. 30, issuance at the government-owned corporation was $392.6 billion.
