Issuance of agency mortgage-backed securities rose to the highest level in a year-and-a-half, though one of the three housing finance agencies didn’t participate in the rally.
Fixed-rate MBS issued on behalf of the Federal National Mortgage Association, the Federal Home Loan Mortgage Corp. and the Government National Mortgage Association totaled $95.422 billion during March.
Activity accelerated from the previous month,
when issuance at the trio of government-controlled entities was $84.399 billion.
In the same month last year, agency MBS issuance was $51.334 billion.
Historical data from eMBS, which provides the statistics monthly to Mortgage Daily, indicate that combined-issuance at the three companies hasn’t been this strong since September 2013, when the total was $102.146 billion.
Fixed-rate agency issuance amounted to $260.781 billion during the first three months of 2014.
The biggest boost came from Fannie Mae, where fixed-rate MBS issuance climbed 28 percent from February to $41.628 billion. Issuance at the Washington-based company was up 91 percent compared to March 2014.
From Jan. 1 through March 31, Fannie’s issuance worked out to
$107.933 billion.
At government-owned Ginnie Mae, fixed-rate MBS issuance was $23.933 billion in March, rising 30 percent from a month
earlier and 90 percent from a year earlier.
Washington-based Ginnie’s year-to-date March 31 volume was $78.647 billion.
Fixed-rate MBS issuance at Freddie Mac, however, moved down 17 percent from February to $23.861 billion last month. Still, activity at the McLean, Virginia-based firm shot up 90 percent from March 2014.
During the first three months of 2015, MBS issuance at Freddie was $74.202 billion.
