Fannie Mae has reported that its total book of business grew at an annualized rate of 6.6% in March, fueled mostly by higher guarantee volume. That was the lowest business volume growth rate in more than a year. One month earlier, Fannie posted a 19.5% annualized rate of business growth. Refinancing has pushed the company's liquidation rate up to its highest level since September 2007, offsetting new mortgage-backed securities and guarantee volume (see item below). The government-sponsored enterprise can be found on the Web at http://www.fanniemae.com.
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