Freddie Mac's Total Portfolio Ticked up in June

Freddie Mac reported today that itsrntotal mortgage portfolio increased at an annualized rate of 0.5rnpercent in June. The portfolio balance at the end of the period wasrn$1.945 trillion compared to $1.944 trillion at the end of May andrn$2.012 trillion in June 2012.  (Hereinafter, parenthetical values are negative).</p

Purchases and Issuances totaled $48.39rnbillion, Sales ($1.43) billion and Liquidations ($46.31) billion. The annualized growth rate thus far in 2013 is (1.1 percent) and thernliquidations rate is 28.8 percent. </p

Single-family refinance-loan purchasernand guarantee volume was $33.4 billion, representing 69 percent ofrntotal mortgage portfolio purchases or issuances. Relief refinancernmortgages comprised approximately 30 percent of the total refinancernvolume in June based on unpaid principal balance. </p

The Mortgage Related InvestmentsrnPortfolio had an ending balance of $521.78 Billion, an increase ofrn7.6 percent or approximately $3.3 billion from May. The annualizedrngrowth rate for the portfolio is (12.8) percent. Freddie Mac hadrnpurchases of $26.34 billion for the month and $98.15 for the year torndate. Liquidations in June were ($10.37) billion and Sales werern($12.67) billion and for the year to date ($62.72) billion andrn($71.18) billion respectively. </p

The composition of the Mortgage Relatedrnportfolio was $186.20 billion in PCs, REMICs and Other StructuredrnSecurities, down from $175.22 in May. Mortgage Loans equaled $201.72rnbillion compared to $206.22 billion the previous month. Non-Agency,rnnon-Freddie Mac Mortgage-Related Securities $20.14 billion, down fromrn$20,14 billion, and Agency non-Freddie Mac Mortgage relatedrnsecurities, $114.71 billion compared to $116.91 a month earlier.</p

Mortgage related securities and otherrnguarantee commitments increased at an annualized rate of 5.6 percentrnin June compared to 2.2 percent in May. The annualized growth raternyear-to-date is 2.9 percent.</p

Freddie Mac’s single family delinquencyrnrate dropped from 2.85 percent in May to 2.79 percent in June. InrnJune 2012 the rate was 3.45. The June rate for non-credit enhancedrnloans was 2.31 percent and for credit enhanced, 6.12 percent. Thernmulti-family delinquency rate was 0.09 percent, one basis point belowrnthe May rate.

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