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Friday, October 24, 2008
Freddie Mac Mortgage Portfolio Up 2.3% In September
Michael Kitchen
MarketWatch Pulse
NEW YORK -- Freddie Mac said Friday its total mortgage portfolio increased 2.3% in September, or an annualized rate of 5.9% year-to-date. The amount of retained portfolio mortgage purchase and sales agreements entered into during September totaled $2.5 billion, up from the net decrease of $15.4 billion in August, it said. Meanwhile, the single-family delinquency rate for all loans was 122 basis points last month, up from 111 basis points in August, the McClean, Va., lender said.
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Most folks judge the health of a business by the revenue that comes in through sales. But not all revenue is equal. Companies can grow their sales by buying other companies, which means you don't get a clear view of how the real sales trends are moving.
So, many analysts, particularly those who look at retail, try to gauge what¿s known as "organic" growth, by looking at same-store sales. These are sales only at outlets open more than a year, so the metric can exclude any sales jump that comes from opening new locations. Retailers release same-store sales (which are frequently called "comps" since they're a true comparison from the previous period) every month.
Retail, incidentally, isn't the only industry to look at same-store sales. Hospital companies, also use the metric, to gauge how existing hospitals are performing compared to ones they just built or acquired.






