Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 11.2 percent in January compared to a 13.1 percent gain in December. The portfolio balance at the end of the period was $3.276 trillion compared to $3.246 trillion the prior month and $2.822 trillion a year earlier. Purchases and Issuances dipped to $85.085 billion from $94.089 billion the prior month and Sales were ($240) billion compared to ($1.467) billion.

Single-family refinance loan purchase and guarantee volume was $43.6 billion in January compared to $48.4 billion in December, representing a 54 percent share of total single-family mortgage portfolio purchases and issuances, down from 58 percent in December.

Purchases in Freddie Mac’s Mortgage Related Investments Portfolio totaled $47.464 billion for the month compared to $59.468 billion during the prior period. Liquidations were ($951) billion and ($1.194) billion for January and December, respectively and Sales for the two periods were ($55.570) and ($53.373) billion. The ending balance in the portfolio was $101.953 billion, compared to $111.011 billion in November and $172.372 billion in January 2021. The annualized growth of the Mortgage Related Investments portfolio was (97.9) percent compared to 55.4 percent in December and a (64.6) percent loss a year earlier

The $101.011 billion ending balance of the Mortgage Related Investments Portfolio was composed of $41.504 billion in Agency Securities, Mortgage Loans valued at $59.261 billion, and Non-Agency Securities at $1.188 billion. Mortgage related securities and other guarantee commitments increased at an annualized rate of 13.8 percent in January compared to 12.5 percent in December.

Freddie Mac's single-family delinquency rate decreased from 1.24 percent in November to 1.12 percent in December. It was at 2.56 percent a year earlier. The multi-family delinquency rate was down 1 basis point to 0.7 percent.   

Freddie Mac said the measure of its exposure to changes in portfolio value averaged $28 million in January compared to $27 million in December. Its maximum exposure to Fannie Mae-issued collateral included in Freddie Mac-issued re-securizations was approximately $115.4 billion. The prior month it was $111.2 billion.