Freddie Mac’s Purchase Volumes Eroded in July
Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 8.4 percent in July compared to a 12.9 percent gain in June. The portfolio balance at the end of the period was $3.033 trillion compared to $3.021 trillion the prior month and $2.518 trillion a year earlier. Purchases and Issuances totaled $85.899 billion, and Sales were ($1.110) billion. The June numbers were $92.609 billion, and ($1.369) billion, respectively. Single-family refinance loan purchase and guarantee volume was $40.5 billion in July compared to $50.9 billion in June, representing a 50 percent share of total single-family mortgage portfolio purchases and issuances, down from 59 percent the previous month.
…(read more)
#fidelityhomegroup, #homebuyerexperts, #mortgagerates #mortgagenews # mortgage