Secondary marketing activity at Freddie Mac was stronger in August. But delinquency climbed further into record territory.
Last month, purchases and issuances were $47.9 billion, according to a monthly volume summary released today. Business increased from $44.1 billion in July and $25.8 billion during August 2008.
Volume at the McLean, Va.-based secondary lender was $411.2 billion from Jan. 1 to Aug. 31.
Freddie’s massive total mortgage portfolio increased to $2.2413 trillion as of Aug. 31 from 2.2343 trillion a month earlier. The portfolio included $0.7794 trillion in mortgage investments and $1.4619 trillion in outstanding participation certificates.
Residential delinquency of at least three months continued its ascent — rising to a record 3.13 percent from 2.95 percent in July. Late payments on home loans stood at just 1.11 percent in August 2008.
Multifamily delinquency of at least 90 days ended August at 0.10 percent, lower than 0.11 percent the prior month but higher than 0.02 percent the prior year.
