|Jump in Purchases at Fannie
April business volume $73.8 billion, duration gap +3
May 18, 2004
By MortgageDaily.com 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 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%.
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,...