Secondary marketing purchases sank to the lowest level in more than a year at the Federal Home Loan Mortgage Corp. But delinquency improved for the second month in a row.
Last month, Freddie Mac purchased or issued $26.1 billion, according to monthly operational data released today. Business dropped from $31.0 billion in March and was less than half of the $58.1 billion reported for April 2009.
So far this year, secondary purchases at the McLean, Va.-based entity totaled $123.0 billion.
Freddie’s total mortgage portfolio finished April at $2.2311 trillion, higher than $2.2257 a month earlier. The total reflected $0.7573 billion in loans that Freddie owns and $1.4739 in outstanding participation certificates.
Late payments on residential loans at the government-controlled enterprise declined for the second consecutive month.
Delinquency of at least 90 days was 4.06 percent on April 30, lower than 4.13 percent the prior month and 2.56 percent 12 months prior.
On the multifamily side, the 60-day delinquency rate edged up 1 basis point from March to 0.25 percent. Apartment delinquency was 0.12 percent in April 2009.