Mortgage Daily

Published On: April 23, 2004
Purchases Soar at Freddie

March new business purchases $43.1 billion

April 23, 2004

By MortgageDaily.com staff

Freddie Mac’s new business rose for the first time in six months.

According to its latest monthly volume summary, Freddie’s new business purchases increased to nearly $43.1 billion in March from $33.8 billion the previous month. A year ago, the figure was $69.2 billion.

The total had been on a downturn since September. Business rival Fannie Mae also reported an increase after six months of decreasing volume.

The total mortgage portfolio’s ending balance of $1.4 trillion consisted of a retained portfolio totaling $635.6 billion and net participation certificates of $798.9 billion, the McLean, Va. company said.

The single-family 90-day delinquency rate — reported on a one-month lag — edged down to 0.86% in February from 0.87% the previous month. The multifamily 60-day delinquency rate rose 2 basis points to 0.07%, according to Freddie.

The duration gap was at zero in March, unchanged since September.

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