In general, single family delinquency rates are low but slowly increasing. Multi-family delinquency rates are high.
Freddie Mac reported that the Single-Family serious delinquency rate in July was 0.59%, down from 0.60% in June. Freddie's rate is up year-over-year from 0.55% in July 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 July was 0.59%, up from 0.58% in June. The serious delinquency rate is up year-over-year from 0.53% in July 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.
Freddie Mac Multi-Family Delinquencies at Highest Rate since Financial Crisis
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