Freddie Mac Multifamily Delinquencies Hit 20-Year High, Surpassing 2008 Peak

Key Facts

1Freddie Mac's multifamily serious delinquency rate rose to 0.64% in August, surpassing the Great Recession peak and hitting a 20-year high.

2Fannie Mae reported a slight decrease in multifamily delinquency rates to 0.57% in August, down from 0.62% in July.

Freddie Mac's multifamily serious delinquency rate rose to 0.64% in August 2026, marking its highest level in over 20 years. Reuters reported that this rate, which tracks loans delinquent for 60 days or more, has now surpassed the peak seen during the Great Recession. Meanwhile, Fannie Mae reported a slight decrease in its multifamily delinquency rate to 0.57% in August, down from 0.62% in July.

The rise in delinquencies reflects ongoing stress in the US commercial real estate and apartment sector as landlords face shifting market conditions. Freddie Mac's current rate significantly exceeds the 0.35% recorded in August 2011, highlighting the scale of the credit pressure. Additionally, the MBA 30-year mortgage rate was recorded at 7.12% on September 23, 2026, up from a previous 6.97%.