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70% of Freddie's Portfolio Suggests Refis Aren't Dead

Friday, September 25, 2020

Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 27.7 percent in August compared to a 20.0 percent gain in July. The portfolio balance at the end of the period was $2.533 trillion compared to $2.476 trillion the prior month and $2.275 trillion a year earlier. The growth rate for the year to date is 13.0 percent. Purchases and Issuances totaled $131.140 billion and Sales were ($898) billion. The July numbers were $116.83 billion and ($3.803) billion, respectively. Single-family refinance loan purchase and guarantee volume was $87.200 billion in August compared to $77.700 billion in July, representing a 70 percent share of total single-family mortgage portfolio purchases and issuances compared to 72 percent the previous month.

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