As secondary lending climbed higher at the Federal Home Loan Mortgage Corp., serious delinquency fell to the lowest it’s been since August 2008.
For the month of March,
Freddie Mac generated $31.776 billion in purchases and issuances.
Volume picked up from the previous month, when secondary activity totaled $26.034 billion.
The McLean, Virginia-based secondary lender disclosed the statistics and other operational data in its Monthly Volume Summary: March 2016.
Business was slightly better than during the same month last year, when purchases and issuances totaled $31.406 billion.
For all three months that have elapsed so far in 2016,
activity amounted to $86.775 billion.
Freddie’s total mortgage portfolio finished the latest month at $1.9554 trillion. The balance increased from $1.9470 trillion as of Feb. 29, 2016, and $1.9147 trillion as of March 31, 2015.
The March 31, 2016, total consisted of
$1.6155 trillion in outstanding mortgage-related securities and other mortgage-related guarantees and an $0.3399 trillion investment portfolio.
At the end of March 2016, single-family delinquency of at least 90 days was 1.20 percent.
That was the lowest delinquency has been since August 2008, when it was 1.11 percent — at the time the highest rate since at least February 2001 based on the oldest data maintained by Mortgage Daily.
Serious residential delinquency was
1.26 percent at the end of February 2016 and 1.73 percent at the same point in 2015.
On multifamily loans, 60-day delinquency was 0.04 percent, unchanged for two consecutive months and a basis point higher that as of the end of March 2015.
