Freddie Reports Steep Drop in Loan Purchases

Published January 25, 2013, 10:23 a.m. EST

1 Min Read

Purchases of mortgage loans and MBS by Freddie Mac plummeted 46% in December after a huge spike in November, the mortgage giant reported Friday morning.

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The secondary market agency said purchases fell to $33.6 billion in December from $62.5 billion in the month prior.

Refinancings represented 67% of purchases and 32% of those $22.5 billion in refis were HARP refinances. In November, 74% of purchases were refinancings.

Friday’s report also shows that MBS issuance by Freddie Mac dropped 50% from November to $30.1 billion in December.

The serious delinquency rate on Freddie’s loan portfolio was unchanged at 3.25%.

Brian Collins

Reporter

Brian Collins covers the housing and mortgage market, including the Federal Housing Administration and the Department of Housing and Urban... Read full bio

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