Freddie Mac purchased $32.1 billion in mortgages from its seller/servicers in October, its weakest acquisition month since January and a sign that originations are slowing in the primary market. According to the GSE's new monthly volume summary, purchases fell slightly from September, but rose 66% compared to October of last year, a month in which credit markets came to a halt and the nation's financial system was on the brink of collapse. Freddie also disclosed that its delinquencies rose yet again to a new record, 3.54% at the end of October, compared to 1.34% in the same period last year. Its delinquency number reflects loans that are 90 days or more past due but exclude loan modifications.
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