The last time monthly mortgage purchases were this low at Freddie Mac was in January 2009.
The McLean, Va.-based company reported that last month’s purchases and issuances fell to $25.2 billion from April’s $26.1 billion. Volume was about half of May 2009’s $50.2 billion and hasn’t been this low since January 2009 — when Freddie purchased just $21.7 billion in mortgages.
So far this year, business at the government-controlled enterprise totaled $148.1 billion.
Freddie’s total mortgage portfolio continued slipping — falling to $2.2236 trillion as of May 31 from $2.2311 trillion a month earlier. The portfolio included an investment portfolio of $0.7481 trillion and $1.4755 trillion in outstanding participation certificates.
Moving on to delinquency, late payments of at least 90 days on Freddie’s residential loans was unchanged from April at 4.06 percent. But delinquency was much lower a year ago: 2.73 percent.
Multifamily delinquency of at least 60 days rose to 0.32 percent from 0.25 percent a month earlier and 0.16 percent a year earlier.
