An increase in the Federal Home Loan Mortgage Corp.’s total mortgage portfolio was registered for last month as new business slipped and delinquency fell to the lowest level since 2008.
Freddie Mac reported that purchases and issuances were $29.691 billion during September.
Business at the McLean, Va.-based company slipped from the $29.722 billion in secondary activity the previous month.
But Freddie eked out a gain compared to the same month in 2013, when purchases and issuances came in at $28.207 billion.
From Jan. 1 through Sept. 30, the secondary lender’s new business amounted to $201.264 billion.
The total mortgage portfolio finished last month at $1.8983 trillion, climbing from $1.8948 trillion at the end of August. But the portfolio was down from Sept. 30, 2013, when it stood at $1.9274 trillion.
Included in the total mortgage portfolio as of Sept. 30, 2014, was an $0.4136 trillion investment portfolio and $1.4847 trillion in outstanding mortgage-related securities and other guarantee commitments.
Residential delinquency of at least 90 days was 1.96 percent as of the end of last month, 2 basis points better than at the end of August and the lowest rate since December 2008’s delinquency rate of 1.72 percent.
In September of last year, the 90-day rate was 2.58 percent.
Freddie reported 60-day multifamily delinquency at 0.03 percent, a basis point lower than a month earlier and 2 BPS better than a year earlier.
