Monthly secondary mortgage purchases jumped at Freddie Mac -- pushing quarterly volume to the highest level since 2005.
First quarter purchases and issuances totaled $146.5 billion, the McLean, Va.-based company said in its monthly summary released today. Business climbed more than $20 billion from the fourth quarter and nearly $15 billion from the first quarter 2006.
Business during the latest quarter was higher than any quarter last year, the data indicate.
During just March, secondary purchases were $55.5 billion, up from $46.3 billion the prior month, the government sponsored housing enterprise reported.
Freddie's total mortgage portfolio ended the latest period at $1.892 trillion, according to the data. The total figure included a $0.714 trillion retained portfolio and $1.178 trillion in outstanding participation certificates.
Delinquency of at least 90 days, announced about on a one-month lag, fell one basis point from the prior month to 0.53 percent, the report said.
There was no change in Freddie's duration gap -- currently at zero.