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70% of Freddie's Portfolio Suggests Refis Aren't Dead

Posted To: MND NewsWire

Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 27.7 percent in August compared to a 20.0 percent gain in July. The portfolio balance at the end of the period was $2.533 trillion compared to $2.476 trillion the prior month and $2.275 trillion a year earlier. The growth rate for the year to date is 13.0 percent. Purchases and Issuances totaled $131.140 billion and Sales were ($898) billion. The July numbers were $116.83 billion and ($3.803) billion, respectively. Single-family refinance loan purchase and guarantee volume was $87.200 billion in August compared to $77.700 billion in July, representing a 70 percent share of total single-family mortgage portfolio purchases and issuances compared to 72 percent the previous month. Purchases in Freddie…(read more)

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