Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 22.4 percent in December compared to a 29.5 percent gain in November. The portfolio balance at the end of the period was $2.740 trillion compared to $2.689 trillion the prior month and $2.301 trillion a year earlier. The growth rate for 2020 was 17.6 percent, up from 6.8 percent for all of 2019.

Purchases and Issuances totaled $129.639 billion and Sales were ($1.330) billion. The November numbers were $155.291 billion and ($4.080) billion, respectively.

Single-family refinance loan purchase and guarantee volume was $77.6 billion in December compared to $107.3  billion in November, representing a 70 percent share of total single-family mortgage portfolio purchases and issuances compared to 74 percent the previous month.

Purchases in Freddie Mac's Mortgage Related Investments Portfolio totaled $111.509 billion for the month compared to $117.106 billion during the prior period. Liquidations were ($1.924) billion and ($2.090) billion for December and November respectively and Sales for the two periods were ($120.351) and ($113.522) billion. The ending balance in the portfolio was $182.184 billion, compared to $192.951 billion in November and $212.673 billion in December 2019.

The Mortgage Related Investments portfolio declined 67.0 percent compared to an increase of 9.4 percent a month earlier. The annualized growth in December 2019 was 48.7 percent. Growth for the year that ended in December 2020 was negative at (14.3) percent.

The ending balance of the Mortgage Related Investments Portfolio was composed of $67.091 billion in Mortgage Related Securities, Mortgage Loans valued at $110.750 billion, Non-Agency, non-Freddie Mac Mortgage-Related Securities at $1.414 billion; and Agency non-Freddie Mac Mortgage related securities of $2.929 billion. Mortgage related securities and other guarantee commitments increased at an annualized rate of 25.9 percent in December compared to 27.2 percent in November.  

Freddie Mac's single-family delinquency rate decreased from 2.75 percent in November to 2.64 percent in December. The multi-family delinquency rate was unchanged at 0.16 percent.    

Freddie Mac said the measure of its exposure to changes in portfolio value averaged $72 million in December compared to $118 million in November. Maximum exposure to Fannie Mae-issued collateral that was included in Freddie Mac-issued resecuritizations was approximately $85.8 billion.