Fannie and Freddie: Single Family Delinquency Rate Mostly Unchanged in May
Industry Update
June 29, 2026
Source: CalculatedRisk Newsletter
In general, single family delinquency rates are low but slowly increasing, although the delinquency rate was mostly unchanged in May. Multi-family delinquency rates are high.
Freddie Mac reported that the Single-Family serious delinquency rate in May was 0.59%, unchanged from 0.59% in April. Freddie’s rate is up year-over-year from 0.55% in May 2025. This is close to the pre-pandemic level of 0.60%.
Freddie’s serious delinquency rate peaked in February 2010 at 4.20% following the housing bubble and peaked at 3.17% in August 2020 during the pandemic.
Fannie Mae reported that the Single-Family serious delinquency rate in May was 0.58%, up from 0.57% in April. The serious delinquency rate is up year-over-year from 0.53% in May 2025, however, this rate is below the pre-pandemic lows of 0.65%.
The Fannie Mae serious delinquency rate peaked in February 2010 at 5.59% following the housing bubble and peaked at 3.32% in August 2020 during the pandemic.
These are mortgage loans that are “three monthly payments or more past due or in foreclosure”. Mortgages in forbearance are being counted as delinquent in this monthly report but are not reported to the credit bureaus.
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