The Federal Home Loan Mortgage Corp. led a month-over-month rise in the securitization of agency mortgages, which soared to a three-year high.
Issuance of fixed-rate mortgage-backed securities on behalf of Fannie Mae, Freddie Mac and Ginnie Mae totaled $126.884 billion during July.
Securitization activity last month was greater than it has been during any month since July 2013, when fixed-rate issuance came to $139.366 billion.
Those details were provided to Mortgage Daily by eMBS.
Issuance was $118.148 billion in June 2016 and $125.069 billion in July 2015.
For the first-seven months of this year, fixed-rate agency issuance amounted to $723.841 billion.
A 17 percent rise from June 2016 in issuance of fixed-rate Freddie Mac MBS put last month’s activity at $34.662 billion. But the McLean, Virginia-based company saw a 9 percent year-over-year decline.
From Jan. 1 through July 31 of this year, Freddie’s issuance totaled $187.626 billion.
Issuance of the Government National Mortgage Association’s fixed-rate MBS was up 5 percent on a month-over-month basis to $44.917 billion. The government-owned company’s volume inched up 2 percent from July 2015.
Year-to-date July 31 issuance on behalf of Washington-based Ginnie came to $259.049 billion.
Fixed-rate MBS issuance on behalf of the Federal National Mortgage Association was $47.305 billion in July 2016, up 4 percent from a month earlier and 10 percent from a year earlier.
During the seven months ended July 31, 2016, issuance of Washington-based Fannie’s MBS came to $277.166 billion.
