Ginnie Mae reports that its mortgage-backed securities (MBS) portfolio outstanding grew for the 15th consecutive month in September, growing to $2.288 trillion, up from $2.265 trillion in August and $2.126 trillion last year. This growth was fueled by steady new issuance of Ginnie Mae MBS, as homeowners found value in the government-backed mortgage market. New MBS issuance for September was $42.6 billion, supporting the financing of more than 143,000 homeowners and renters. Ginnie Mae MBS supported financing for more than 64,000 first-time homebuyers in September.
The September issuance includes $40.77 billion of Ginnie Mae II MBS and $1.86 billion of Ginnie Mae I MBS, including approximately $1.73 billion of loans for multifamily housing.
“The past fiscal year saw a fast-changing housing market, with rapid upward movement in mortgage rates and record-setting national home price growth combining to put stress on the availability of affordable homeownership and rental housing,” says Alanna McCargo, Ginnie Mae’s president. “Through these events, Ginnie Mae stayed true to our mission to link the global capital markets to lenders across America, especially benefiting first-time homebuyers.
