Single-family serious mortgage delinquency dipped to the lowest level in more than a decade at the Federal Home Loan Mortgage Corp. New business declined, however.
As of July 31, the ending balance of Freddie Mac’s total mortgage portfolio was $2.1365 trillion, according to the secondary lender’s Monthly Volume Summary: July 2018.
A month earlier, the McLean, Virginia-based organization’s book of business was $2.1302 trillion, while the balance was $2.0439 trillion as of a year earlier.
Last month’s total consisted of
a $0.2441 trillion investment portfolio and $1.8923 trillion in outstanding mortgage-related securities and other guarantees.
Purchases and issuances came to $32.721 billion, falling from $35.543 billion in June. But business was little changed from $35.561 billion in July 2017. During the seven months ended July 31, purchases and issuances amounted to $215.891 billion.
Freddie reported a single-family 90-day delinquency rate of 0.78 percent —
the lowest it’s been since it was 0.77 percent in March 2008.
Serious mortgage delinquency stood at 0.82 percent as of mid-2018 and 0.85 percent as of July 31, 2017.
In its commercial real estate business, Freddie’s multifamily delinquency of at least 60 days ended last month at 0.01 percent — unchanged for the past three months and from the same month in 2017.
