The third quarter of 2024 has experienced an uptick in delinquency rates in multifamily for both Freddie Mac and Fannie Mae.
For Freddie Mac, first-quarter delinquencies were 0.44% in January, 0.35% in February, and 0.34% in March. Q2 had 0.35% in April, 0.36% in May, and 0.38% in June. The third quarter was 0.39% in July, 0.38% in August, and 0.39% in September. The increase in the third quarter was "primarily driven by an increase in delinquent floating rate loans including small balance loans that are in their floating rate period."
Fannie Mae saw 0.54% in January, 0.53% in February, and 0.51% in March. For April it was 0.49%, 0.48% in May, and 0.48% in June. Then, 0.49% in July, 0.50% in August, and 0.52% in September for Q3.
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