Delinquency Rate Hits Post Housing Crisis Low for Freddie Mac

Freddie Mac said today that its totalrnmortgage portfolio increased by $951 million in April to $1.949 trillion, anrnincrease of 0.6 percent.  This was thernsecond straight month the portfolio has increased.  Purchases totaled $47.3 billion compared torn$52.0 billion in March, liquidations were ($45.7) compared to ($44.85) billion andrnsales were ($627) million, up from ($617) million.   The year to date growth in that portfolio isrn(1.1) percent and the annualized liquidation rate is 29.2 percent.</p

The Mortgage-Related InvestmentsrnPortfolio declined from an unpaid principal balance of $534.2 billion in March torn528.3 billion in April, a change of 13.2 percent.  Purchases totaled $15.0 billion compared to $13.57rnbillion in March.  Liquidations increasedrnfrom ($10.10) billion the month before to ($10.5) billion and sales decreasedrnfrom ($12.01) billion to ($10.4) billion. rnYear to date purchases total $57.59 billion, liquidations ($42.11)rnbillion, and sales ($44.76) billion for an annual growth year-to-date of (15.8)rnpercent.</p

The company’s Mortgage RelatedrnSecurities and Other Guarantee Commitments had an ending balance of $1.60rntrillion, an annualized increase of 4.1 percent.</p

The Mortgage-Related InvestmentsrnPortfolio consists of $177.32 billion of PCs REMICs and other structuredrnsecurities, $20.81 billion in Agency Securities, $119.73 billion Non-AgencyrnSecurities, and $210.41 billion in mortgage loans. The ending balance of thernMortgage-Related Investments Portfolio was $528.3 billion, a decrease of $5.9rnbillion since March.</p

The overall delinquency rate in FreddiernMac’s portfolios dropped below 3 percent for the first time since the beginningrnof the housing crisis, to 2.91 percent.  It was 3.03 percent in March. .  The Non-credit enhanced delinquency ratesrndropped 9 basis points to 2.40 percent and the credit enhanced portion of thernportfolio had a rate of 6.42 percent compared to 6.74 percent the previousrnmonth.  Multi-family delinquencies were 0.09rnpercent compared to 0.16 percent in March.

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