Freddie Business Off

$35.9 billion January business purchases
By MortgageDaily.com staff
2/24/2005

Mortgage loans purchased on the secondary market by Freddie Mac fell in January.

Last month's new business purchases of $35.9 billion dropped from $41.9 billion in December, according to Freddie's latest monthly volume summary. The total was barely changed from $36.9 billion reported for January 2004.

The government sponsored enterprise's $0.6 trillion retained portfolio and $0.9 trillion in issued participation certificates reportedly gave the total mortgage portfolio an ending balance of $1.5 trillion.

The delinquency rate for single-family loans past due 90 days or more was 0.73% in December, two basis points better than the previous month. The McLean, Va.-based company reports delinquency on a one-month lag.

Freddie said the average duration gap, which is the balance of its cash flows from assets and liabilities, was zero months in January.

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