$48.5 billion April business purchases
By MortgageDaily.com staff
5/24/2005

Secondary mortgage purchases jumped by nearly a quarter at Freddie Mac.

New business purchases were $48.5 billion during April, according to Freddie's monthly summary, up significantly from $39.1 billion in March and the best month since June 2004. A year ago volume was reported at $48.3 billion.

The McLean, Va.-based company reported a total mortgage portfolio of $1.5 trillion, comprised of a $0.7 trillion retained portfolio and $0.9 trillion in outstanding participation certificates.

Single-family 90-day delinquency, reported on a one-month lag, fell five basis points to 0.67% in March.

The secondary lender's average duration gap remained unchanged in April at 0, the summary said.

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