August 5, 2021

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Mortgage News

Freddie Mac Business Activity Slowed in April

Freddie Mac reported this week that his entire mortgage portfolio rose at an annual rate of 13.2 percent in April compared to an increase of 27.2 percent in March. The portfolio balance at the end of the period was $ 2.785 trillion, compared to $ 2.927 trillion the previous month and $ 2.434 trillion last year.

Purchases and issues were $ 121.668 billion and revenue was $ 1.761 billion. The March numbers were $ 142.465 billion and $ (0.785) billion, respectively.

Single-family home refinancing loan purchase and guarantee volume was $ 82.9 billion in April, compared to $ 103.3 billion in MarchThis corresponds to a share of 72 percent of the total purchase of a single-family mortgage portfolio and emissions down 76 percent in the previous month.

Purchases in Freddie Mac’s mortgage-related portfolio were $ 86.081 billion for the month, compared to $ 114.725 billion in the prior period. Liquidations were $ (1.703) billion and $ (1.475) billion, respectively, in April and March, and revenue for the two periods was ($ 115.710) and $ (103.806) billion, respectively. The portfolio’s closing balance was $ 143.124 billion, compared to $ 174.456 billion in March and $ 203.443 billion in April 2020.

Annualized growth in the mortgage-related investment portfolio was (215.5) percent compared to 68.7 percent in March and (44.1) percent a year earlier.

The closing balance of the mortgage-related investments portfolio of $ 143.124 billion consisted of agency securities of $ 58.200 billion, mortgage loans of $ 83.570 billion and off-agency securities of $ 1.355 billion. Mortgage-related securities and other guarantee obligations rose 27.2 percent on an annualized basis in April, compared with 22.7 percent in March.

Freddie Mac’s single family home The crime rate fell from 2.34 percent in March to 2.15 percent in April. The multi-family crime rate rose 3 basis points to 0.20 percent.

Freddie Mac said the measure of exposure to changes in portfolio value averaged $ 13 million in April, compared to $ 66 million in March. The maximum exposure to Fannie Mae-issued collateral included in Freddie Mac-issued restructurings was approximately $ 94.0 billion, compared to $ 93.7 billion in March.