Mortgage Daily

Published On: September 4, 2007
FHLB Advances Jump$769 billion outstanding on Aug. 31

September 4, 2007

By SAM GARCIA

Monthly activity soared at the Federal Home Loan Bank system.

Advances outstanding on Aug. 31 were $769 billion, climbing $110 billion from July 31, according to FHLB’s Office of Finance today.

Advances are collateralized loans to the bank’s 8,100 member institutions used to “to provide primary liquidity to the U.S. housing market,” the report said.

Consolidated obligations outstanding were $1.087 trillion at August’s end, rising $0.110 trillion from the end of July, the statement indicated.

“Members can be comfortable that the triple-A rated Home Loan Bank System is able to efficiently access capital markets to fund advance demand in this period of market stress,” said Chicago FHLB President Mike Thomas in the statement.

The FHLB of Des Moines reported separately that its outstanding advances ended August at $24.7 billion, up $2.0 billion from July’s end.

The 11th District FHLB of San Francisco announced a $53 billion monthly increase to $224 billion on Aug. 31.

The FHLB of Atlanta said its advances outstanding rose by $29.1 billion — though it did not report the total.

The president and chief executive officer of the Atlanta bank, Richard Dorfman, said in the statement, “We provided a reliable and dependable source of liquidity at a critical juncture.”


next story

back to current headlines

FREE CALCULATORS TO HELP YOU SUCCEED
Tools for Your Next Big Decision.

Amortization Calculator

Affordability Calculator

Mortgage Calculator

Refinance Calculator

FHA Mortgage Calculator

VA Mortgage Calculator

Real Estate Calculator

Tags

Pre-Approval Resources!

Making well educated decions in a matter of minutes and stay up to date on the latest news Mortgage Daily has to offer. Read our latest articles to stay up to date on what’s going on…

Resource Center

Since 1998, Mortgage Daily has helped millions of people such as yourself navigate the complicated hurdles of the mortgage industry. See our popular topics below, search our website. With over 300,000 articles, we are guaranteed to have something for you.

Your mortgages approval starts here.

Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here.

Stay Up To Days with Today’s Latest Rates

Mortgage

Today’s rates starting at

4.63%

5/1 ARM
$200,000 LOAN

Home Refinance

Today’s rates starting at

4.75%

30 YEAR FIXED
$200,000 LOAN

Home Equity

Today’s rates starting at

3.99%

3 YEAR
$200,000 LOAN

HELOC

Today’s rates starting at

2.24%

30 YEAR FIXED
$200,000 LOAN