$43.0 billion January business purchases
By MortgageDaily.com staff
2/24/2006

Freddie Mac's mortgage purchases tumbled in January.

The secondary lender reported new business purchases of $43.0 billion, falling from December's $58.8 billion. In January 2005, however, the level was much lower at $35.9 billion.

The total mortgage portfolio surpassed $1.7 trillion and was comprised of a $0.7 trillion retained portfolio and close to $1.0 trillion in outstanding participation certificates, according to Freddie's monthly volume summary report.

The 90+ day delinquency rate for single-family loans, which Freddie reports on a one-month lag, was 0.69% in December, up 1 basis point from the previous month.

The McLean, Va.-based company said its average duration gap, or the balance of cash flows from assets and liabilities, remained at zero months in January.

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