Posted To: MND NewsWire

Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 5.5 percent in May compared to a 14.3 percent gain in April. The portfolio balance at the end of the period was $2.407 trillion compared to $2.396 trillion at the end of April and $2.230 trillion a year earlier. The growth rate for the year to date is 7.8 percent. Purchases and Issuances totaled $78,329 billion and Sales were ($2.799) billion. The April numbers were $80,879 billion and ($0.770) billion, respectively. Single-family refinance loan purchase and guarantee volume was $54.500 billion in May compared to $52.100 billion in April and representing a 76 percent share of total single-family mortgage portfolio purchases and issuances compared to 69 percent the previous month. Purchases in…(read more)

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Source: Mortgage News Daily