Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 3.0 percent in February, growing from 1.2 percent the previous month. The portfolio balance at the end of the period was $2.190 trillion compared to $2.184 trillion at the end of January and $2.096 trillion a year earlier.
Purchases and Issuances totaled $24,566 billion and Sales were ($424.0) billion. The January numbers were $23,713 billion and ($909) billion respectively. The 3.0 percent annualized growth rate for February was considerably higher than the February 2018 rate of 0.7 percent.
Purchases in Freddie Mac's Mortgage Related Investments Portfolio totaled $19,072 billion for the month compared to $17,282 billion in January. Liquidations were ($1.840) billion and ($2.009) billion for February and January respectively and Sales for the two periods were ($17,012) billion and ($14.434) billion. The ending balance in the portfolio was $219,139 billion and the annualized growth rate was 1.2 percent compared to (43.0) percent a year earlier.
The ending balance of the Mortgage Related Investments Portfolio was composed of $120,955 billion in Mortgage Related Securities, Mortgage Loans valued at $92,236 billion, Non-Agency, non-Freddie Mac Mortgage-Related Securities at $2.228 billion; and Agency non-Freddie Mac Mortgage related securities of $3.66 billion. Mortgage related securities and other guarantee commitments increased at an annualized rate of 2.7 percent compared to 1.5 percent in January.
Freddie Mac's single-family delinquency rate dipped down 1 basis point to 69. In February 2018 the rate was 1.067 percent. The rate for credit-enhanced Primary Mortgage Insurance loans also declined by 1 basis point to 86 basis points while the non-credit enhanced rate was unchanged at 84 basis points. The multi-family delinquency rate was 0.01 percent, as it has been for ten straight months. The rate in February 2018 was 0.02 percent.