On February 25, Freddie Mac announced that it would no longer purchase or securitize interest-only mortgages, starting on or around September 1, 2010. This policy will include its own Initial Interest fixed- and adjustable-rate mortgages. As of December 31, 2009, 48% of Freddie Mac's interest-only loans were delinquent, with nearly $130 billion in unpaid principal balances.