In August, Ginnie Mae’s mortgage-backed securities (MBS) portfolio outstanding grew to $2.458 trillion – including $38.1 billion of total MBS issuance, leading to $18 billion of net growth.
Issuance for the month was approximately the same as July’s $38 billion but lower than June’s $39.5 billion.
August’s new MBS issuance supports the financing of more than 123,000 households, including 59,000 first-time homebuyers. Approximately 76% of the August MBS issuance reflects new mortgages that support home purchases, as refinance activity remained low due to higher interest rates.
For the 2023 calendar year to date, Ginnie Mae supported the pooling and securitization of more than 410,000 first-time homebuyer loans.
The August issuance includes $36.9 billion of Ginnie Mae II MBS and $1.2 billion of Ginnie Mae I MBS, including approximately $1.01 billion in loans for multifamily housing.
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