Single-family refinance loan purchasesrnand guarantee volume was $30.5 billion in May, representing 72rnpercent of the total of $42.4 billion in purchases and issuances inrnthe Total Mortgage Portfolio during the month. Relief refinancernmortgages comprised about one-third of those refinances based on UPB.rn Sales in the Total Mortgage Portfolio were ($2.01) billion andrnliquidations ($45.2) billion for a net decrease of ($4.8) billion.</p

The Mortgage Related InvestmentrnPortfolio had an ending balance of $518.5 billion compared to $528.3rnbillion in April, a decrease of $9.8 billion. The annualized growthrnrate of the portfolio year-to-date is (16.8) percent. At the end ofrnthe reporting period that portfolio consisted of $175.2 billion inrnPCs, REMICs, and other structured securities; $20.12 billion inrnAgency Securities; $116.9 billion in Non-Agency Securities, andrn$206.2 billion in mortgage loans.</p

Mortgage related securities and otherrnguarantee commitments increased by an annualized rate of 2.2 percentrnin May to an ending UPB of $1.601 trillion. That portfolio hasrnincreased for the last three months and by 2.4 percent thus far inrn2013.</p

Freddie Mac’s single family delinquencyrnrate fell to 2.85 percent from 2.91 percent in April and 3.50 percentrnone year earlier. The rate for the non-credit enhanced portion ofrnthe portfolio was 2.35 percent, down 5 basis points from April andrnthe credit enhanced portion dropped from 6.42 percent in April torn6.26 percent. One year ago that rate stood at 7.99 percent. Therndelinquency rate for the multi-family portfolio was 0.08 percent inrnMay, down from 0.09 percent in April.</p

Freddie Mac completed 6,165 loanrnmodifications in May and has completed a total of 32,846 in the firstrnfive months of the year. </p

The company said its exposure tornchanges in portfolio market value (PMVS-L) averaged $359 million inrnMay. The duration gap averaged 1 month.

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