Freddie Mac's monthly volume summary for November revealed a second month of sizeable growth in its retained portfolio — not surprising given its placement in conservatorship and the government's goal of reducing mortgage rates for borrowers.

The retained portfolio surged an annualized 65.6% resulting in an ending balance of $805.4 billion. This follows a 43.6% growth in November to $763.7 billion. Based on the agreement with the government, the GSEs portfolios can reach $850 billion by the end of 2009, after which they will be required to reduce this by 10% annually.

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