General World News

Fannie Mae lifted by low rates, purchase mortgages in Q2

Fannie Mae continues to reap the rewards of low mortgage rates as it posted a net income of $7.2 billion for the second quarter of 2021, up from $5 billion in the first quarter.

Refinances continued to account for the majority of the government-sponsored entity’s acquisitions. In the second quarter, refinances made up 65%, or $243.8 billion, of Fannie Mae’s $373.3 billion in single-family acquisitions, while refinances accounted for 70% or $545 billion of its single-family acquisitions in the year so far.

But in a departure from the past year, purchase acquisitions crested $130 details ⇒

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