Refinancing Still Driving Mortgage Volume; New Home Sales Improve Sharply
Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 17.4 percent in September compared to a 23.7 percent gain in August. The portfolio balance at the end of the period was $3.137 trillion compared to $3.093 trillion the prior month and $2.613 trillion a year earlier. Purchases and Issuances totaled $112.333 billion, and Sales were ($498) billion. The August numbers were $119.682 billion, and ($277) billion, respectively. Single-family refinance loan purchase and guarantee volume was $59.8 billion in September compared to $65.7 billion in August, representing a 58 percent share of total single-family mortgage portfolio purchases and issuances, unchanged from the share in August. Purchases in Freddie Mac's Mortgage Related Investments Portfolio
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