Secondary mortgage purchases turned lower at Fannie Mae.
The Washington, D.C.-based company acquired $51.1 billion in new business during January, down from $57.8 billion the prior month, according to its latest monthly summary. During January 2006, business purchases were $51.2 billion.
Fannie's gross mortgage portfolio ended the month at $0.721 trillion while its total book of business was $2.543 trillion, according to the report.
Serious delinquency on residential loans, reported on a one-month lag, edged up two basis points in December to 0.65 percent, Fannie said.
Fannie's duration gap remained at zero months, the summary indicated.