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Tag Archives: Delinquency

Fannie Mae’s Book Sees Another Drop in August

Fannie Mae's book of business fell in August at a compound rate of 0.8 percent, a slower pace than -1.7 percent in July. Year-to-date, the book's average monthly growth rate was -1.1 percent as of the end of the month. The secondary market giant's gross mortgage portfolio continued to drop, though the rate of contraction was slower at 29.6 percent negative growth. Year-to-date, the average monthly growth rate for the portfolio was -23.1 percent in August. New business acquisitions were also down.

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August Business Sinks at Freddie Mac

Freddie

Freddie Mac's mortgage portfolio shrank in August at the fastest rate so far this year. The portfolio contracted at a rate of 5.0 percent, turning down further from July's -1.7 percent growth rate.

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FOMC Issues Mortgage Rate Warning, Sticks to Bond Purchases

Fed

Despite concerns about rising mortgage rates and low inflation, the Federal Open Market Committee (FOMC) voted Wednesday to continue its policy of near-zero interest rates and its $85-billion-per-month bond-buying program. In a subtle change of language, the committee "reaffirmed its view that a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the asset purchase program ends."

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Beige Book Again Sees Modest to Moderate Growth

Fed

Citing improvements in manufacturing, tourism, commercial and residential real estate and in the financial sector, the Federal Reserve said the nation's economy continued to increase at a modest to moderate pace from late May through early July.

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