| Business Purchases Fall at Freddie
July purchases $44.8 billion August 26, 2004 By MortgageDaily.com staff |
| Defying a four-month trend of increased business purchases, Freddie Mac reported a decrease in July.
According to its latest monthly volume summary, Freddie’s new business purchases of $44.8 billion fell from June’s total of $53.3 billion. Purchases are nearly half off from a year ago. The McLean, Virg.-based secondary lender’s total mortgage portfolio of $1.4 trillion edged up from June, the report said, and was comprised of a retained portfolio of $656.3 billion and net participation certificates of $820.1 billion. The 90-day single family delinquency rate dropped three basis points to 0.74% in June, according to the announcement, while the 60-day multifamily rate edged down one basis point to 0.05%. Delinquencies are reported on a one-month lag. The duration gap for the government-sponsored enterprise was reportedly zero, unchanged since September. |
