Freddie Mac reported a 17% jump in refinancing volume from July to August and another monthly decline in single-family delinquencies.

In its monthly activity report Friday, the government-sponsored enterprise said it purchased $21.2 billion of refinanced loans in August, "reflecting 73% of total mortgage purchases and issuances."

Freddie issued $28.5 billion of mortgage-backed securities in August, up from $26.6 billion in July. In August 2009, it issued $47.5 billion of MBS.

The serious delinquency rate on Freddie's guaranteed single-family mortgage portfolio edged lower for the third consecutive month. Freddie said 3.83% of its single-family loans were 90 days or more past due in July, down 6 basis points from June. (The late-payment figures lag by a month.) In January, 4.15% of its loans were considered seriously delinquent.

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