There were mixed signals last week on the strength of the economy and housing in particular.
Freddie Mac reported it purchased $38.1 billion of mortgages in November, a 12% gain from the month prior, and its best acquisition month since February. Roughly 71% of its purchases were refinancings.
Freddie had announced earlier that in November it issued $30.5 billion of MBS, a 6.2% improvement from October.
Freddie's single-family delinquency rate, however, rose for the fourth consecutive month, a sign that the housing crisis is far from over. The serious delinquency rate (90 days or more past due) ticked up three basis points to 3.57% in November. In August, Freddie's serious delinquency rate was 3.49%.