It was the slowest month for new business at Freddie Mac in more than a year. Delinquency, meanwhile, fell to a seven-year low.
The Federal Home Loan Mortgage Corp.’s purchases and issuances in February totaled $26.034 billion, down from $28.965 billion during the first month of the year.
Business for the McLean, Virginia-based government-controlled enterprise has not been as slow as it was during February since January 2015, when secondary volume came in at $25.310 billion.
In February 2015, purchases and issuances were $34.104 billion.
Volume during the first two months of this year came to $54.999 billion.
The secondary lender’s
total mortgage portfolio closed out February 2016 at $1.9470 trillion, falling from $1.9441 trillion a month earlier and $1.9132 trillion a year earlier.
The Feb. 28, 2016, total was comprised of $1.6003 trillion in outstanding
mortgage-related securities and other guarantees and an $0.3467 trillion investment portfolio.
After inching up to 1.33 percent in January, Freddie’s single-family 90-day delinquency rate tumbled to 1.26 percent.
The last time serious residential delinquency was this low was in September 2008, when it was 1.22 percent.
Ninety-day delinquency was 1.81 percent in February 2015.
Freddie reported its multifamily 60-day delinquency at 0.04 percent as of the most-recent date.
While there was no change from the rate as of Jan. 31, 2016, it did worsen slightly from 0.03 percent as of Feb. 28, 2015.
