Agency issuance of fixed-rate mortgage-backed securities jumped in September and was also stronger than a year ago. The Federal National Mortgage Association was responsible for much of the month-over-month gain, with its own issuance surging by more than half.
Fixed-rate issuance at Fannie Mae, Freddie Mac and Ginnie Mae collectively climbed to $129.2 billion last month from $100.1 billion in August, based on market data provided by eMBS.
During September 2009, issuance of MBS backed by the government-controlled trio was lower at $123.1 billion.
From Jan. 1 to Sept. 30, aggegate issuance exceeded $866.0 billion.
The jump in activity was most pronounced at Fannie Mae, where volume soared to $65.2 billion from August’s $42.9 billion. Issuance was also higher than September 2009 when the Washington, D.C.-based company saw $55.3 billion in activity.
Issuance of Fannie MBS totaled $358.9 billion through September.
The volume of issuance for McLean, Va.-based Freddie’s securities increased to $35.1 billion from $27.3 billion a month earlier and $30.4 billion a year earlier. Freddie’s year-to-date issuances added up to $244.9 billion as of Sept. 30.
But business wasn’t so bustling at the Government National Mortgage Association.
September fixed-rate issuance was $28.9 billion at Ginnie, lower than $29.9 billion the previous month and $37.4 billion the previous year.
So far this year, Ginnie issuances totaled $262.2 billion.
