Fannie Mae's mortgage portfolio drops again

Mortgage backer says its gross portfolio fell over $10 billion to $722 billion in November.

December 21 2007: 11:49 AM EST

NEW YORK (Dow Jones/AP) -- Fannie Mae said Friday that its gross mortgage portfolio fell in November to $722 billion from $732.3 billion in October.

Shares of Fannie Mae (FNM) climbed 3 percent in midday trade Friday.

The Office of Federal Housing Enterprise Oversight no longer requires Fannie Mae to report the numbers, which exclude expenses, for its mortgage portfolio assets. For investors, the adjusted mortgage portfolio assets were approximately $719 billion as of Nov. 30, the agency said.

Fannie said its net retained commitments fell to $4.5 billion in November, and that its book of business grew at an annualized compound rate of 15.4 percent.

Fannie's duration gap, a measure of the portfolio's sensitivity to interest rates, averaged one month in November.

The conventional single-family delinquency rate rose to 0.83 percent in October from 0.78 percent in September.

The multifamily serious delinquency rate fell to 0.07 percent in October from 0.08 percent in September.

Total residential mortgage debt outstanding grew at a compound annualized rate of 7.6 percent to $11.8 trillion during the third quarter of 2007, compared with a rate of 10.2 percent in the third quarter of 2006.

Realestate Rates Fall Overnight

Wednesday, December 19, 2007

On Tuesday Long-term mortgage interest rates were lower and the benchmark 10-year Treasury bond yield has been dropped to 4.12 percent. The 30-year fixed-rate mortgage average sank to 5.84 percent, and the 15-year fixed rate mortgage dipped to 5.4 percent.

The 1-year adjustable rate held at 5.59 percent. The 30-year Treasury bond yield edged down to 4.54 percent. Rates and bonds are current as of 7:15 p.m.

Eastern Standard Time. Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states. Points on these mortgages range from zero to 3.5.

In other economic news, the Dow Jones Industrial Average rose 65.27 points, or 0.5 percent, finishing at 13,232.47. The Nasdaq gained 21.57 points, or 0.84 percent, closing at 2,596.03.Stock figures are current as of 7:30 p.m. Eastern Standard Time.

Sources: inman.com

Overnight real estate rates continue climb

Tuesday, December 11, 2007

Recently the mortgage rates have been increased. According to the Bankrate.com, 30-year FRM rates have been increased to 5.8%; and 10-year Treasury yield at 4.16%. The Long-term mortgage interest rates have also been increased on Monday, and the benchmark 10-year Treasury bond yield moved up to 4.16 percent.

Even the 30-year fixed-rate average rose to 5.8 %, and the 15-year fixed rate edged up to 5.38 %. The 1-year ARM has been increased to 5.54 %.

The 30-year Treasury bond yield was also up at 4.62 %. In another economic news, the Dow Jones Industrial Average gained 101.45 points, or 0.74 percent, finishing at 13,727.03. The Nasdaq gained 12.79 points, or 0.47 %, closing at 2,718.95.

Sources: inman.com