Mortgage Daily Logo
mortgage news from industry experts

Jump in Purchases at Fannie

Jump in Purchases at Fannie

April business volume $73.8 billion, duration gap +3

May 18, 2004

By staff

Increasing for the second consecutive month, Fannie Mae’s monthly business volume reportedly grew by a quarter. The company’s duration gap saw a three month swing.

The mortgage giant’s monthly summary showed April business volume grew to $73.8 billion from $59.1 billion the previous month. A year earlier, the total stood at $139.0 billion.

The latest results are in line with Fannie’s economists previous forecasts that production would increase during the second quarter.

Mortgage-backed securities (MBS) acquired by others of $46.3 billion and portfolio purchases of $27.4 billion made up April’s business volume, the Washington D.C.-based company said in the report.

Fannie reported the duration gap — a measure of the balance of cash flows on the company’s assets and liabilities — on the mortgage portfolio averaged positive three months, up from zero in March.

The conventional single-family delinquency rate — reported on a one month lag — edged down three basis points from the previous month to 0.58% in March. Meanwhile, the multifamily delinquency rate decreased by seven basis points to 0.17%.

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...


Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI

Related Posts