Fannie Mae's quarterly business volume increased and its book of business reversed a five-month decline.
Second quarter business volume rose to $139.4 billion from the first quarter's $130.6 billion, according to Fannie's latest monthly summary report. But the total is way below $225.9 billion a year earlier.
For just June, volume of $48.8 billion increased from $45.3 billion in the previous month, the Washington, D.C.-based company said.
The secondary lender's $2.3 trillion book of business consisted of a $0.8 trillion mortgage portfolio and $1.4 trillion in outstanding mortgage-backed securities. The book of business had been down every month since December.
The single-family delinquency rate, which Fannie reports on a one-month lag, remained at 0.57% in May.
The effective duration gap in June was 0 months, compared to -1 in the previous two months, according to the report.