Ginnie Mae’s mortgage-backed securities (MBS) portfolio outstanding grew for the 15th consecutive month in September, expanding to $2.288 trillion —up from $2.265 trillion in August and $2.126 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 September was $42.6 billion, supporting the financing of more than 143,000 homeowners and renters. Additionally, Ginnie Mae MBS supported financing for more than 64,000 first-time homebuyers in September.
“The past fiscal year saw a fast-changing housing market, with rapid upward movement in mortgage rates and record-setting national home price growth combining to put stress on the availability of affordable homeownership and rental housing,” said McCargo. “Through these events, Ginnie Mae stayed true to our mission to link the global capital markets to lenders across America, especially benefiting first-time homebuyers.
The September issuance includes $40.77 billion of Ginnie Mae II MBS and $1.86 billion of Ginnie Mae I MBS, including approximately $1.73 billion of loans for multifamily housing.
This comes after the August issuance that included $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.
“The growth in our MBS portfolio shows continued participation in government-backed mortgage programs that provide access to credit for households that need lower down payments and affordable financing,” Ginnie Mae President Alanna McCargo.
For more information on monthly MBS issuance, UPB balance and more, click here.