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| New business and multifamily delinquency improved at Freddie Mac. But residential delinquency climbed further into record territory.
Second-quarter purchases and issuances were $171.5 billion, Freddie’s monthly volume summary today said. Activity increased from $147.8 billion in the first quarter and $162.0 billion in the second-quarter 2008. During just June, purchases and issuances climbed to $63.2 billion from May’s $50.2 billion. A year earlier, volume was $53.7 billion. Freddie’s massive total mortgage portfolio rose to $2.2405 trillion at the end of last month from $2.2283 trillion on May 31. The portfolio included an $0.8298 trillion investment portfolio and $1.4106 trillion in outstanding participation certificates. Residential delinquency of at least 90 days, which has climbed every month since May 2007, increased from 2.62 percent on May 31 to 2.78 percent as of June 30 — a new record. A year earlier, delinquency was just 0.93 percent. Multifamily delinquency of at least 90 days, however, eased to 0.11 percent from 0.12 percent at the end of June. Multifamily late payments were just 0.04 percent a year earlier. |
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