Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 2.3 percent in September. The portfolio balance at the end of the period was $2.151 trillion compared to $2.147 trillion at the end of August and $2.057 trillion a year earlier.
Purchases and Issuances totaled $31.296 billion, bringing the 2018 year-to-date total to $286.6 billion, Sales were ($1.474) billion and Liquidations ($25.739) billion in September and totaled ($16.916) and ($215.003) billion respectively so far this year. The annualized growth rate for 2018 through the end of September was 3.4 percent and the annualized liquidations rate was (13.7) percent.
Single-family refinance-loan purchase and guarantee volume was $6.5 billion in September compared to $6.9 billion the prior month. The refinance share of total single-family mortgage portfolio purchases or issuances was 27 percent, up from 23 percent in August.
The Mortgage Related Investments Portfolio had an ending balance of $227.804 billion, a decrease of $6.7 billion in the aggregate unpaid principal balance compared to August. The annualized growth rate for the year to date as of September was (13.5) percent. Freddie Mac had purchases of $27.607 billion for the month and $212.057 billion thus far in 2018. Liquidations were ($2.907) billion and Sales were ($27.607) billion and, for the year thus far, ($26.368) billion and ($211.340) billion respectively.
The ending balance of the Mortgage Related Investments Portfolio was composed of $121.636 billion in Mortgage Related Securities, Mortgage Loans valued at $96.505 billion, Non-Agency, non-Freddie Mac Mortgage-Related Securities at $5.268 billion; and Agency non-Freddie Mac Mortgage related securities of $4.395 billion. Mortgage related securities and other guarantee commitments increased at an annualized rate of 5.0 percent in September.
Freddie Mac's single-family delinquency rate was unchanged from August at 0.73 percent and was down 13 basis points from the rate the previous September. The rate for credit-enhanced Primary Mortgage Insurance loans declined by 1 basis point month-over-month and the non-credit enhanced rate increased by 2 basis points to .89 percent and 0.88 percent respectively. The multi-family delinquency rate was 0.01 percent, unchanged from the prior five months. The rate in September 2017 was 0.03 percent.