Fannie and Freddie: Single Family Serious Delinquency Rate Mostly Unchanged in June, Multi-family Increased

Today, in the Calculated Risk Real Estate Newsletter: Fannie and Freddie: Single Family Serious Delinquency Rate Mostly Unchanged in June, Multi-family Increased

Brief excerpt:

Single-family serious delinquencies were mostly unchanged in June, and multi-family serious delinquencies increased again.
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Freddie Mac reports that the multi-family delinquencies rate increased to 0.38% in June, up from 0.36% in April, but down from the recent peak of 0.44% in January.

This graph shows the Freddie multi-family serious delinquency rate since 2012. Rates were still high in 2012 following the housing bust and financial crisis.

The multi-family rate increased following the pandemic and has increased recently as rent growth has slowed, vacancy rates have increased, and borrowing rates have increased sharply. The rate surged higher in January and then declined in February and March but has been increasing again. This will be something to watch as more apartments come on the market.

There is much more in the article.