In addition to driving new business to a 10-month high, delinquency at the Federal Home Loan Mortgage Corp. was the lowest since 2008.
There
were $35.684 billion in total purchases and issuances during the month of May at the secondary lender.
The McLean, Virginia-based government-sponsored enterprise reported the operational data in its
Monthly Volume Summary: May 2016.
It was the strongest month for Freddie Mac since July 2015, when $41.152 billion in secondary activity was generated.
A month earlier, purchases and issuances came to $30.478 billion, while they were $37.375 billion a year earlier.
During the five months ended May 31, 2016, secondary activity amounted to $152.937 billion.
Freddie’s total mortgage portfolio closed out last month at $1.9577 trillion, expanding from $1.9535 trillion as of April 30 and $1.9195 trillion as of May 31, 2015.
Outstanding mortgage-related securities and other other mortgage-related guarantees accounted for $1.6317 trillion of the May 31, 2016, total portfolio, while the remaining $0.3260 trillion was Freddie’s investment portfolio.
Moving on to loan delinquency, the residential 90-day rate finished the most-recent month at
1.11 percent — the best rate of serious delinquency since August 2008, when it also stood at 1.11 percent.
The 90-day rate was
1.15 percent at the end of April 2016 and 1.58 percent at the end of May 2015.
On its commercial real estate loan portfolio, multifamily delinquency of at least 60 days closed out May 2016 at 0.02 percent.
Freddie cut the multifamily delinquency rate in half compared to the prior month but doubled the rate versus a year prior.
