Production of agency MBS in July slipped to its lowest monthly level since early 2009, according to a new analysis and ranking by Inside MBS & ABS. Fannie Mae, Freddie Mac and Ginnie Mae issued a total of just $70.34 billion of single-family MBS during July, down 3.4 percent from the previous month. It was the lowest one-month production level since January 2009 and left year-to-date issuance down 4.3 percent from the first seven months of 2010. Ginnie production was actually up slightly from June levels, but both Fannie and Freddie posted significant slowdowns. Freddie issuance dropped 15.5 percent from the previous month and accounted for [Includes one data chart]