A month-over-month decline to a new 2-year low in agency issuance was led by Fannie Mae, even though Ginnie Mae’s securitizations fell to a three-year low.

Between Fannie, Freddie Mac and government-owned Ginnie, issuance of fixed-rate mortgage-backed securities worked out to $83.288 billion in March.

Last month’s MBS securitizations on behalf of the trio of government-controlled companies turned out to be least since February 2016, when the total was $77.267 billion.

Source: Mortgage Daily