Secondary mortgage volume climbed to the highest level in almost five years at Freddie Mac. But delinquency reached a four-year high.
The government-sponsored housing enterprise had $65.1 billion in purchases and issuances during May, according to its monthly volume summary released today. Business was up from $43.3 billion in April and $51.4 billion in May 2007.
Purchases and issuances haven’t been this high since October 2003, when the McLean, Va.-based company reported $77.5 billion in volume.
Freddie said its total mortgage portfolio was $2.191 trillion on May 31, up from $2.158 trillion on April 30. The total mortgage portfolio included an $0.770 trillion retained portfolio and $1.421 trillion in guaranteed participation certificates outstanding.
Single-family delinquency of at least 90 days, reported on a one-month delay, was 0.81 percent on April 30, according to the secondary lender. Delinquency was up from 0.77 percent on March 31 and has not been this high since March 2004, when it stood at 0.83 percent.
Multifamily delinquency edged down to 0.03 percent in April from 0.04 percent in March, the report said.
Freddie said its monthly average duration gap remained at zero months in May.
