Ginnie Mae’s mortgage-backed securities outstanding portfolio grew for the 14th consecutive month in August, hitting $2.269 trillion, up from $2.248 trillion in July, and $2.119 trillion last year.
This growth was fueled by steady new issuance of Ginnie Mae MBS as homeowners found value in the government-backed mortgage market. New MBS issuance for August was $43.1 billion, supporting the financing of more than 146,000 homeowners and renters.
The August issuance includes $41.3 billion of Ginnie Mae II MBS and $1.73 billion of Ginnie Mae I MBS, including approximately $1.62 billion of loans for multifamily housing.
This comes after Ginnie Mae's recent July MBS issuance for $45.5 billion, in efforts to support the financing of more than 155,000 single-family homes and rental units, which included $43 billion of Ginnie Mae II MBS, and $2.01 billion of Ginnie Mae I MBS –approximately $1.85 billion of loans for multifamily housing.
“The current housing market continues to present serious affordability challenges for many households. The lack of affordable supply is exacerbated by markedly higher interest rates from a year ago,” said Ginnie Mae President Alanna McCargo. “The growth in our MBS portfolio, however, shows continued participation in government-backed mortgage programs that provide access to credit for households that need lower down payments and affordable financing.”
For more information on monthly MBS issuance, UPB balance, REMIC monthly issuance and global market analysis, visit Ginnie Mae Disclosure here.