It’s been almost two years since new business was this strong at the Federal Home Loan Mortgage Corp. Even better, residential delinquency was at its lowest level in more than six years.
Purchases and issuances at the secondary lender were $37.375 billion during May, according to monthly operational data provided by Freddie Mac.
Business moved up from $36.480 billion the previous month and $19.589 billion in the same month the previous year.
In fact, historical data from the government-controlled enterprise indicate that business
hasn’t been this good since July 2013 — when volume came in at $42.250 billion.
Year-to-date May 2015,
secondary activity amounted to $164.675 billion.
Freddie reported a total mortgage portfolio of $1.9195 trillion as of the end of last month. The portfolio grew from $1.9160 trillion at the end of April and $1.8955 trillion at the same point in 2014.
The most-recent portfolio consisted of $1.5299 trillion in outstanding mortgage related investments and an $0.3895 trillion investment portfolio.
Single-family delinquency of at least 90 days tumbled to 1.58 percent from 1.66 percent as of April 30. As of May 31, 2014, the rate was 2.10 percent.
Serious delinquency on Freddie Mac home loans has not been this low since November 2008, when the rate was 1.52 percent.
Multifamily delinquency of at least 60 days finished May 2015 at
0.01 percent, down two basis points from a month earlier and five BPS lower than a year earlier.
