Freddie Mac Sees March Business Grow

""Freddie Mac's"":http://www.freddiemac.com/ total mortgage portfolio grew in March for the first time this year, according to the GSE's ""monthly volume summary"":http://www.freddiemac.com/investors/volsum/pdf/0313mvs.pdf.

The portfolio experienced growth at an annualized rate of 4.0 percent in March, a turnaround from the 4.1 percent and 4.8 percent contraction seen in February and January, respectively.

Freddie Mac reported about $52.0 billion in purchases and issuances--up more than $9 billion over February--and nearly $45.5 billion in sales and liquidations.

As of March 31, the portfolio's ending balance was about $1.95 trillion, beating February and coming in just under January's total.

Freddie Mac's record of mortgage-related securities and other guarantees grew at an annualized rate of 8.9 percent, the fastest pace since June 2009, when the portfolio saw a growth rate of 9.9 percent. The last month to see growth in this category was November 2012.

Single-family refinance-loan purchase and guarantee volume was $41.9 billion in March, representing 80 percent of total mortgage portfolio purchases or issuances, Freddie Mac reported. Relief refinance mortgages made up about 28 percent of total refinance volume during March (based on unpaid principal balance).

Meanwhile, the single-family seriously delinquent rate fell from 3.15 percent in February to 3.03 percent in March. The multifamily delinquency rate remained flat at 0.16 percent.

A total of 6,511 loan modifications were made in March, bringing the year-to-date total to 20,613.