10/09/2024 | Press release | Distributed by Public on 10/09/2024 18:46
Washington, D.C. - Ginnie Mae's mortgage-backed securities (MBS) portfolio outstanding grew to $2.63 trillion in August, including $41.2 billion of total MBS issuance, resulting in $13.7 billion of net growth. August's new MBS issuance supports the financing of more than 124,000 households, including over 61,000 first-time homebuyers. Approximately 72 percent of the August MBS issuance reflects new mortgages that support home purchases because as refinance activity remained low due to higher interest rates.
The August issuance includes $40.1 billion of Ginnie Mae II MBS and $1 billion of Ginnie Mae I MBS, including $921 million in multifamily housing loans.
For the 2024 calendar year to date, Ginnie Mae has supported the pooling and securitization of more than 429,000 first-time homebuyer loans.
For more information on monthly MBS issuance, Unpaid Principal Balance (UPB), real estate mortgage investment conduit (REMIC) monthly issuance, and global market analysis, visit Ginnie Mae Disclosure.
Additional information about Ginnie Mae is available at www.ginniemae.gov and on X (formerly Twitter), YouTube, Facebook, and LinkedIn.
About Ginnie Mae
Ginnie Mae is an entirely government-owned corporation that attracts global capital into the housing finance system to support homeownership for veterans and millions of homeowners throughout the country. Ginnie Mae mortgage-backed security (MBS) programs directly support housing finance programs administered by the Federal Housing Administration, the U.S. Department of Veterans Affairs, the U.S. Department of Housing and Urban Development's Office of Public and Indian Housing, and the U.S. Department of Agriculture's Rural Housing Service. Ginnie Mae is the only MBS to carry the explicit full faith and credit of the U.S. Government.