Fannie, Freddie Report Higher Share of Purchase Mortgages

Freddie Mac has experienced a significant pickup in home purchase loans over the first three quarters of this year.

The GSE has acquired $84 billion in home purchase loans so far—the highest level since 2009—including $34 billion in 3Q.

Overall, Freddie’s purchase mortgage volume is up over 40% from the fourth quarter of last year.

Purchase loan transactions accounted of 35% of Freddie’s acquisitions in 3Q, compared to 18% in the 4Q 2012, as refinancings dropped.

Freddie’s 3Q financial disclosures show that refinancing activity fell by 36% from the second quarter to $64 billion in 3Q. HARP refi volume fell 35% from 2Q to $13 billion in 3Q.

Fannie Mae disclosed that home purchase loans comprised 38% of its single-family acquisitions in 3Q, up from 24% in 3Q 2012. But its securities filings and other disclosures provided little information regarding home purchase loans.