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.
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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%.
