Issuance at the Government National Mortgage Association has diminished for three consecutive months and is the lowest it’s been in 12 months.

Ginnie Mae-guaranteed mortgage-backed securities outstanding stood at $1.8055 trillion as of March 31, according to a monthly operational summary.

The total grew from $1.7982 trillion as of a month earlier and was also greater than $1.6632 trillion that was outstanding as of a year earlier.

Source: Mortgage Daily