Washington, D.C.—Ginnie Mae’s mortgage-backed securities (MBS) portfolio outstanding grew to $2.440 trillion in July, including $37.5 billion of total MBS issuance, leading to $18 billion of net growth. Issuance for this month was lower than June’s $39 billion but higher than May’s $34 billion and April’s $33 billion.
July’s new MBS issuance supports financing for more than 120,000 households, including more than 57,000 first-time homebuyers. Approximately 78 percent of the July MBS issuance reflects new mortgages that support home purchases, as refinance activity remained low due to higher interest rates.
For the 2023 calendar year to date, Ginnie Mae has supported the pooling and securitization of nearly 351,000 first-time homebuyer loans.
The July issuance includes $36.6 billion of Ginnie Mae II MBS and $900 million of Ginnie Mae I MBS, including approximately $740 million in loans for multifamily housing.
For more information on monthly MBS issuance, Unpaid Principal Balance, real estate mortgage investment conduit (REMIC) monthly issuance, and global market analysis, visit Ginnie Mae Disclosure.
Additional information about Ginnie Mae is available at
https://www.ginniemae.gov and on
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 United States Government.