Multifamily delinquency rates are on the rise, while single-family rates continue to remain constant. Monthly data from Fannie Mae and Freddie Mac show delinquencies ticked up slightly in November.
The Multifamily Serious Delinquency Rate from Fannie Mae increased three basis points from 0.44% in October to 0.47% in November, both levels well above the reading from a year ago. The November 2022 rate was 0.27%. Single-family delinquency was up one basis point to 0.54%.
Meanwhile, the rate from Freddie Mac inched upward two basis points from 0.26% to 0.28% during the month. This rate has also skyrocketed from a year ago when it was 0.15% in November 2022. Single-family was unchanged at 0.54% in November.