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Freddie Mac released its Monthly Volume Summary for January, noting their total mortgage portfolio decreased at an annualized rate of 1.9% in the month. Despite a slight uptick in December, the company's ending balance has been declining since June, 2013. The summary reports the unpaid principal balance of mortgage related investments decreased by approximately $7.1 billion in January.
Single-family refinance-loan purchase and guarantee volume was $10.5 billion, representing 55% of total single-family mortgage portfolio purchases. Total seriously delinquent loans on single-family mortgages saw a rate decrease from 2.39% in December to 2.34%. The monthly multi-family delinquent rate decreased slightly from .09% in the previous month to .05%. In January, Freddie Mac had 6,094 loan modifications.
S&P Dow Jones Indices released its S&P Case Shiller Home Price Indices for December, showing national prices were up 11.3% as of year-end. Despite dropping from the third quarter 0.3%, 2013 was the strongest year for house prices in nearly a decade. However, David Blitzer, chairman of the index committee, remained cautious. He said gains are slowing from month to month, and the strongest part of the recovery in home values may be over, citing weak existing-home sales and a lack of new construction.
