Ginnie Mae’s mortgage-backed securities (MBS) portfolio outstanding grew to $2.44 trillion in July. That figure includes $37.5 billion of total MBS issuance, leading to $18 billion of net growth.
Issuance for July was lower than June’s $39 billion but higher than May’s $34 billion and April’s $33 billion.
July’s new MBS issuance supports financing for more than 120,000 households, including more than 57,000 first-time homebuyers. Approximately 78% of the July 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 has supported the pooling and securitization of nearly 351,000 first-time homebuyer loans.
The July issuance includes $36.6 billion of Ginnie Mae II MBS and $900 million of Ginnie Mae I MBS, including approximately $740 million in loans for multifamily housing.
Image by Freepik.
