| Business Better at Freddie
May business purchases $50.7 billion June 24, 2004 By MortgageDaily.com staff |
| On the heels of two consecutive months with increased business purchases, Freddie Mac reported another increase.
Freddie announced new business purchases of $50.7 billion, the third consecutive monthly rise and nearly 5% better than April. Purchases are off more than a third from a year ago. The McLean, Virg.-based secondary lender said its total mortgage portfolio stood at $1.4 trillion, edging up from April. The retained portfolio was $633.9 billion, Freddie said, while net participation certificates were $810.1 billion. Ninety-day single family delinquency, reported on a one month lag, fell five basis points to 0.78% during April, according to the announcement, while the multifamily rate was unchanged 0.06%. The duration gap for the government sponsored housing enterprise was reportedly zero, unchanged since September. |
