Freddie Reports Higher Loan Purchases in March

Freddie Mac purchased nearly $52 billion in mortgage loans and securities in March, up 21% from the prior month, the secondary market agency reported Thursday morning.

During March, 80% of the single-family loans, or $41.8 billion, were refinancings.

Freddie Mac also issued $53 billion in MBS in March, up 17% from the month prior.

The serious delinquency rate on Freddie’s guaranteed single-family mortgage portfolio fell 12 basis points from February to March.

The percentage of single-family loans that are 90 days or more past due fell to 3.03% in February. A year ago, Freddie’s serious delinquency rate was 3.51%.