It’s been seven years since serious mortgage delinquency was this low at the Federal Home Loan Mortgage Corp., though new business didn’t fare so well.
In a monthly operational summary released Wednesday, Freddie Mac reported $28.372 billion in purchases and issuances during October.
Business at the McLean, Virginia-based enterprise moved down from the previous month, when secondary activity came to
$33.262 billion.
Activity hardly changed, however, from the same month in 2014, a month that saw $28.761 billion in purchases and issuances.
So far this year, secondary activity at Freddie amounted to $341.445 billion.
The secondary lender’s total mortgage portfolio finished the most-recent month at $1.9325 trillion, growing from $1.9313 trillion at the end of September and $1.9023 trillion as of Oct. 31, 2014.
The Oct. 31, 2015, balance was comprised of an $0.3556 trillion investment portfolio and $1.5770 trillion in outstanding mortgage-related securities and other guarantee commitments.
Ninety-day delinquency on Freddie’s residential portfolio as of the end of October 2015
was 1.38 percent — the lowest 90-day rate since since it was 1.34 percent in October 2008.
Serious delinquency was
1.41 percent a month earlier and 1.91 percent a year earlier.
On Freddie’s multifamily loans, 60-day delinquency climbed to 0.03 percent from 0.01 percent as of Sept. 30, 2015. But there was no change in the multifamily rate compared to Oct. 31, 2014.
