Freddie Mac reported this morning that its Total Mortgage Portfolio increased by 4.0 percent in March to an ending balance of $1.95 trillion. The increase followed three straight months in which the portfolio declined. Purchases totaled $52.0 billion compared to $42.86 billion in February; liquidations were (44.85) billion compared to ($48.96) and sales were ($617) million, compared to ($559) million. The year to date growth in that portfolio is (1.6) percent and the annualized liquidation rate is 29.6 percent.
The Mortgage-Related Investments Portfolio declined from an unpaid principal balance of $542.7 billion in February to $534.2 billion in March, a change of (19.0) percent. Purchases totaled $13.57 billion compared to $13.94 billion in February. Liquidations were down slightly from ($10.58) billion the month before to ($10.10) billion and sales increased from ($10.67) billion to ($12.01) billion. Year to date purchases total $42.58 billion, liquidations ($31.61) billion, and sales ($34.37) billion for an annual growth year-to-date of (16.8) percent.
The Mortgage-Related Investments Portfolio consists of $178.66 billion of PCs REMICs and other structured securities, $21.48 billion in Agency Securities, $121.50 billion Non-Agency Securities, and $212.51 billion in mortgage loans.
The overall delinquency rate in Freddie Mac's portfolios was 3.03 percent in March compared to 3.15 percent in February. The Non-credit enhanced rate was 2.49 percent down from 2.56 percent and the credit enhanced portion of the portfolio had a rate of 6.74 percent compared to 7.04 percent the previous month. Multi-family delinquencies were unchanged at 0.16 percent.