Increasing for the second consecutive month, Fannie Mae's monthly business volume reportedly grew by a quarter. The company's duration gap saw a three month swing.
The mortgage giant's monthly summary showed April business volume grew to $73.8 billion from $59.1 billion the previous month. A year earlier, the total stood at $139.0 billion.
The latest results are in line with Fannie's economists previous forecasts that production would increase during the second quarter.
Mortgage-backed securities (MBS) acquired by others of $46.3 billion and portfolio purchases of $27.4 billion made up April's business volume, the Washington D.C.-based company said in the report.
Fannie reported the duration gap -- a measure of the balance of cash flows on the company's assets and liabilities -- on the mortgage portfolio averaged positive three months, up from zero in March.
The conventional single-family delinquency rate -- reported on a one month lag -- edged down three basis points from the previous month to 0.58% in March. Meanwhile, the multifamily delinquency rate decreased by seven basis points to 0.17%.