Freddie Mac’s Volume Dropped Sharply in May; Forbearances Increase Slightly

Freddie Mac’s Volume Dropped Sharply in May; Forbearances Increase Slightly

Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 8.6 percent in May compared to a 13.2 percent gain in April. The portfolio balance at the end of the period was $2.980 trillion compared to $2.959 trillion the prior month and $2.448 trillion a year earlier. Purchases and Issuances totaled $91.739 billion, and Sales were ($1.292) billion. The April numbers were $121.668 billion, and ($1.761) billion, respectively. Single-family refinance loan purchase and guarantee volume was $57.1 billion in May compared to $82.9 billion in April, representing a 66 percent share of total single-family mortgage portfolio purchases and issuances, down from 72 percent the previous month. Purchases in Freddie Mac's Mortgage Related Investments Portfolio totaled