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Freddie Reports Weak Performance

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Record delinquency worsened and secondary purchases remained low at Freddie Mac.

During October, purchases and issuances dipped to $32.2 billion from $32.9 billion a month earlier, according to operational data released today. In October 2008, volume was $19.3 billion.

From January through October, purchases and issuances totaled $476.4 billion.

Freddie’s total mortgage portfolio concluded last month at $2.2439 trillion, higher than $2.2427 trillion at the end of September. The mammoth portfolio included owned mortgages of $0.7701 trillion and outstanding participation certificates of $1.4739 trillion as of Oct. 31.

Residential delinquency of at least 90 days was a record 3.54 percent, rising from September’s record 3.33 percent. Home-loan delinquency was just 1.34 percent on Oct. 31, 2008.

Apartment delinquency was 0.12 percent at the end of October, up from 0.11 percent a month prior and just 0.01 percent a year prior.

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