Secondary mortgage activity at the Federal Home Loan Mortgage Corp. sank to the lowest level in 10 months, though delinquency continued improving.
Monthly operational data published by Freddie Mac indicates that its
purchases and issuances came to $26.537 billion for the entire month of November.
New business slowed from the previous month, when volume was $28.372 billion. It was the second consecutive month that secondary activity subsided.
The last time monthly volume was this low was in January, when $25.310 billion was generated.
It was also down from the same month last year, when purchases and issuances totaled $29.455 billion.
For all 11 months that have elapsed so far this year, Freddie’s new business amounted to $367.982 billion.
The secondary lender ended last month with a $1.9319 trillion total mortgage portfolio. The balance was trimmed from $1.9325 trillion as of Oct. 31 but has grown from $1.9030 trillion as of Nov. 30, 2014.
The Nov. 30, 2015, total reflected
an investment portfolio of $0.3450 trillion and $1.5870 trillion in outstanding mortgage-related securities and other guarantee commitments.
The 90-day delinquency rate on Freddie’s residential book of business was 1.36 percent as of the end of November — the lowest 90-day rate since since October 2008, when it was 1.34 percent.
November 2015’s serious delinquency was
two basis points less than a month earlier and 55 BPS better than a year earlier.
Multifamily delinquency of 60 days was 0.03 percent, no different than a month prior or a year prior.
