CalculatedRisk Newsletter (Substack)

Fannie and Freddie: Single Family Delinquency Rate Increased in January

Freddie Mac reported its single‑family serious delinquency rate rose to 0.60% in January, a marginal increase from December’s 0.59% and slightly below the 0.61% recorded a year earlier. Fannie Mae’s comparable rate edged up to 0.59% from 0.58% in December, also modestly higher than the 0.57% seen in January 2025. Both GSEs note that the current levels sit near pre‑pandemic lows, far beneath the peaks of over 4% for Freddie and 5.5% for Fannie during the 2010 housing bust and the 2020 pandemic surge. Vintage analysis shows older loan cohorts from the 2004‑2008 bubble period still carry the highest delinquency percentages.