Boosted by an increase in secondary market purchases and a decline in sales, Freddie Mac's portfolio grew for the first time this year in July.
The mortgage giant reported 0.1 percent annualized growth in its total mortgage portfolio last month—a turnaround after six straight months of declines. Year-to-date, the portfolio's annualized growth rate is -1.7 percent.
As of July 31, the portfolio's value was up still slightly under $1.9 trillion.
Purchases and issuances totaled $25.4 billion throughout the month, up from June's $24.6 billion. July's increase was the second in as many months.
Activity was weak, however, compared to July 2013's recorded $42.3 billion in purchases and issuances.
Freddie's single-family refinance-loan purchase and guarantee volume was $9.2 billion in July, representing about 40 percent of total new single-family mortgage portfolio activity. Relief refinance mortgages accounted for 20 percent of the company's single-family refinance volume based on unpaid principal balance.
The company reported 6,727 loan modifications through the month, ratcheting the year-to-date total up to 41,982.