| Purchases Soar at Freddie
March new business purchases $43.1 billion April 23, 2004 By MortgageDaily.com staff |
| Freddie Mac’s new business rose for the first time in six months.
According to its latest monthly volume summary, Freddie’s new business purchases increased to nearly $43.1 billion in March from $33.8 billion the previous month. A year ago, the figure was $69.2 billion. The total had been on a downturn since September. Business rival Fannie Mae also reported an increase after six months of decreasing volume. The total mortgage portfolio’s ending balance of $1.4 trillion consisted of a retained portfolio totaling $635.6 billion and net participation certificates of $798.9 billion, the McLean, Va. company said. The single-family 90-day delinquency rate — reported on a one-month lag — edged down to 0.86% in February from 0.87% the previous month. The multifamily 60-day delinquency rate rose 2 basis points to 0.07%, according to Freddie. The duration gap was at zero in March, unchanged since September. |
