More than 3% of Freddie Mac's single-family home loans were delinquent in August, the company says in its monthly volume report. The total delinquency rate for single-family homes – 3.13% – compares to a 1.11% rate for August 2008.
Multifamily delinquencies dropped slightly, from 0.11% in July to 0.10% in August.
Freddie's total mortgage portfolio, meanwhile, increased at an annualized rate of 3.7% during the month. Refinance-loan purchase volume grew from $34.1 billion July to $35.6 billion in August.
The aggregate unpaid principal balance (UPB) of the company's mortgage-related investments portfolio decreased during the month to $779.4 billion. In July, Freddie's UPB stood at approximately $799.1 billion.
SOURCE: Freddie Mac