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Refinances Dominated Freddie Mac Volume in February

Posted To: MND NewsWire

Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 5.5 percent in February , up from a 4.3 percent gain in January. The portfolio balance at the end of the period was $2.350 trillion compared to $2.339 trillion at the end of January and $2.190 trillion a year earlier. The growth rate for the year to date is 4.9 percent. Purchases and Issuances totaled $46.054 billion and Sales were ($1.041) billion. The January numbers were $47.606 billion and ($.253) billion respectively. Single-family refinance loan purchase and guarantee volume was $23.800 billion in February compared to $25.800 billion in January and representing a 59 percent share of total single-family mortgage portfolio purchases and issuances compared to 57 percent the previous month...(read more)