Freddie Mac's issuance of mortgage-backed securities rose 10% in June after falling nearly 9% in May, according to the government-sponsored enterprise.

The GSE reported this week that it issued $22.8 billion in MBS in June, up from $20.7 billion in MBS the previous month.

Freddie's monthly activity report also shows it purchased or guaranteed $14 billion in refinanced mortgages in June, compared to $13.3 in May.

Meanwhile, Freddie's single-family delinquency rate continues to trend downward.

The serious delinquency rate (90 days or more past due) fell to 3.5% in June, down 3 basis points from the prior month. A year ago, the GSE had a 3.96% serious delinquency rate.

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