Freddie Mac's retained portfolio held steady in November following annualized growth of 3.4% in October. Year-to-date, the retained portfolio totals $704.3 billion compared to $704.4 billion in the previous month. For purposes of the agreement with Office of Federal Housing Enterprise Oversight, the GSE estimates its total retained mortgage portfolio was approximately $704.8 billion as of the end of November compared to $702.5 billion at the end of October.
Retained purchases were $18.0 billion, sales were $2.6 billion, and liquidations were $15.6 billion, which are all similar to the previous report. Retained net mortgage purchase agreements, however, declined to $10.1 billion in November from $19.4 billion in October.
Within the retained portfolio, holdings of FHLMC PCs and structured securities were up slightly to $358.2 billion from $357.8 billion. Conversely, non-Freddie Mac mortgage-related holdings were down just slightly from the previous month. As percentages, Freddie Mac and non-Freddie Mac holdings remain at nearly 51% and 49% of the portfolio, respectively.
Issuance of PCs and structured securities totaled $28.4 billion, bringing year-to-date issuance to $327.3 billion. After liquidations, net issuance is $128.2 billion compared to $126.6 billion for 2005.
The agency also reported its total mortgage portfolio's growth rate declined to 6.2% in November from 9.5% in October. Year-to-date, growth has been 8.1%. Delinquencies on non-credit enhanced single-family loans held unchanged in October from September at 23 basis points. Finally, the duration gap in November held at zero months as it has all year.
