Agency issuance of fixed-rate mortgage-backed securities sank last month — with volume down by one-third for MBS issued by the Federal National Mortgage Association and the Government National Mortgage Association.
At Fannie Mae, October fixed-rate issuance was $36.4 billion, according to data provided by eMBS. Volume sank from $55.5 billion in September but was still higher than $35.0 billion in October 2008.
So far this year, Fannie’s issuance totaled $684.2 billion.
Over at its cross-town rival, Freddie Mac, fixed-rate securitizations were $25.4 billion last month, lower than $30.5 billion the prior month but well above $13.0 billion a year earlier.
Freddie’s year-to-date issuance as of Oct. 31 was $398.7 billion.
Government-owned Ginnie Mae saw issuance of $24.8 billion, falling from September’s $37.4 billion and September 2008’s $27.8 billion.
From Jan. 1 to Oct. 31, issuance at Ginnie was $350.6 billion.
