In June the unpaid principal balance of Freddie Mac's total mortgage portfolio declined 2.6% from a year earlier, to $1.89 trillion, as total purchases shrank by almost half.

Freddie's portfolio includes mortgage-related securities and other guarantees, all mortgage loans, along with non-Freddie Mac mortgage-related agency and nonagency securities. Purchases and issuances declined 49% to $24.6 billion. (This figure includes cash purchases of single-family and multifamily mortgage loans and purchases of securities that are not backed by Freddie, as well as issuances of mortgage-backed securities and other issuances guaranteed by Freddie.)

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