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DS News Webcast: Monday 12/1/2014

According to Freddie Mac's recently released monthly volume summary, the mortgage giant's total loan portfolio grew last month at an annualized rate of 2.5 percent, the highest growth rate since March 2013. As of the end of October, the portfolio's value was estimated at $1.9 trillion, up nearly $4 billion from September. October marked the second straight month of growth for the portfolio, which had contracted for seven of 2014's first 10 months. Year-to-date, the portfolio has shrunk at an average annualized rate of 0.8 percent.

Purchases or issuances at Freddie Mac totaled $28.8 billion dollars for the month, a decrease of 3.1 percent from September but an increase of nearly 29 percent from the same month last year. That decline was offset by a drop in sales and liquidations, which subtract from the portfolio. The aggregate value of Freddie Mac's portfolio of mortgage-related investments fell $6.1 billion throughout October, putting it at a total balance of $406.8 billion, the company reported. Both purchases and sales were down for the month, while liquidations rose slightly.

Consumer confidence retreated this month, falling from a seven-year high on a gloomier outlook for what the future will bring. The Conference Board's index of consumer confidence declined to 88.7 in the group's November reading, according to a report. The drop follows a bump of more than five points in October to a post-recession high of 94.5, revised to 94.1 in the latest measure. The index's component gauging consumer expectations fell nearly seven points this month, decreasing to 87 after a spike in October.

About Author: Jordan Funderburk

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