Mortgages issued by Fannie Mae and Freddie Mac increased in June, but delinquencies continued to rise. Fannie’s mortgage portfolio increased by an impressive 18.1% in June. For more on the latest numbers from Fannie and Freddie, see the following article from HousingWire.
Government-sponsored mortgage investors Fannie Mae (FNM: 0.58 0.00%) and Freddie Mac (FRE: 0.61 0.00%) along with Ginnie Mae saw issuance increase in June along with rising delinquency rates.
Fannie’s mortgage portfolio swelled by 18.1% in June and 5.4% from a year ago. Fannie securitized $33.2bn of whole loans held in the portfolio. Its total mortgage-related purchases and issuance grew to $792.61bn from $789.63bn in May, according to a monthly volume summary released last week.
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The delinquency rate among Fannie’s conventional single-family mortgages jumped to 3.68% in May from 3.42% in April. The rate has increased every month since May 2008.
Fannie’s brother GSE, Freddie, saw a 2.78% delinquency rate for single-family homes in June, up from 2.62% in May, according to its monthly survey released last week.
Freddie’s purchases and issuances rebounded to $63.15bn in June after May’s slide to $50.22bn. Its refinance purchases jumped as well, to $50.9bn in June from $40.3bn in May.
Ginnie Mae issued more than $43bn in mortgage-backed securities in June, climbing over the $40bn threshold for the first time in its 41-year history. For the first half of 2009, Ginnie pumped $207bn of liquidity into the secondary market, up from $107bn from the first half of 2008.
This article has been republished from HousingWire. You can also view this article on HousingWire, a mortgage and real estate news site.
