Freddie Mac.

Freddie Mac said it purchased some $200 billion of mortgages in the 11 months through November, surpassing the $191 billion tally for all of last year.

The agency - formally the Federal Home Loan Mortgage Corp. - reached the $200 billion mark after buying a record $27 billion of mortgages in November. That was up 44% from October and 26% from the previous monthly record, which was set in June.

"We are now buying mortgages at a rate of $1.5 billion a day, or a loan every two seconds," said David Glenn, president.

The agency attributed the increased volume to record levels of refinancings and improved market share.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER