Ginnie Mae‘s mortgage-backed securities (MBS) portfolio outstanding grew to $2.422 trillion in June. That figure includes $39 billion of total MBS issuance, leading to $18 billion of net growth. Issuance for June was significantly higher than May’s $34 billion as well as April’s $33 billion.
June’s new MBS issuance supports the financing of more than 130,000 households, including more than 62,000 first-time homebuyers. Approximately 75% of the June 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 294,000 first-time homebuyer loans.
The June issuance includes $37.9 billion of Ginnie Mae II MBS and $1.3 billion of Ginnie Mae I MBS, including approximately $1.2 billion in loans for multifamily housing.
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