Monthly issuance of Ginnie Mae mortgage-backed securities fell to a five-month low, though jumbo activity strengthened.
Issuance of MBS guaranteed by the Government National Mortgage Association came in at $27.787 billion for November, monthly operational data indicate.
But business picked up from November 2013, a month that saw $25.697 billion in total MBS issuance.
In the 11 months ended Nov. 30, issuance of the government-owned corporation’s securities amounted to $285.016 billion. Since starting fiscal-year 2015 on Oct. 1, volume added up to $59.178 billion.
Residential issuance accounted for $26.329 billion of last month’s total, dropping from $29.904 billion in October but stronger than $24.534 billion in November 2013.
Included in November’s residential activity was $0.853 billion in jumbo issuance, rising from $0.768 billion a month earlier.
Also in the residential numbers was $0.628 billion in home-equity conversion mortgage MBS, off from the October’s $0.690 billion.
Issuance of multifamily MBS dipped to $1.458 billion in November from $1.487 billion. But multifamily business improved from November 2013, when issuance was $1.163 billion.