Mortgage Daily

Published On: June 24, 2004
Business Better at Freddie

May business purchases $50.7 billion

June 24, 2004

By MortgageDaily.com staff

On the heels of two consecutive months with increased business purchases, Freddie Mac reported another increase.

Freddie announced new business purchases of $50.7 billion, the third consecutive monthly rise and nearly 5% better than April. Purchases are off more than a third from a year ago.

The McLean, Virg.-based secondary lender said its total mortgage portfolio stood at $1.4 trillion, edging up from April. The retained portfolio was $633.9 billion, Freddie said, while net participation certificates were $810.1 billion.

Ninety-day single family delinquency, reported on a one month lag, fell five basis points to 0.78% during April, according to the announcement, while the multifamily rate was unchanged 0.06%.

The duration gap for the government sponsored housing enterprise was reportedly zero, unchanged since September.

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