Secondary Mortgage Market Activity
The rapid rise in interest rates during 1994 led to a marked drop in mortgage purchases by the two major players in the secondary market, the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). These purchases reached a low of $5.4 billion in January 1995.
Suggested citation: “Secondary Mortgage Market Activity,” Federal Reserve Bank of Cleveland, Economic Trends, no. 96-06, pp. 17, 06.01.1996.