August 2025 Highlights - Foreclosure Prevention
The Enterprises' Foreclosure Prevention Actions:
- The Enterprises completed 16,617 foreclosure prevention actions in August 2025, bringing the total to 7,248,350 since the start of the conservatorships in September 2008. Approximately 39 percent of these actions have been permanent loan modifications.
- There were 7,142 permanent loan modifications in August 2025, bringing the total to 2,803,269 since the conservatorships began in September 2008.
- Approximately 35 percent of loan modifications in August involved extend term only. Modifications with principal forbearance accounted for 65 percent of all loan modifications during the month.
- The number of borrowers who received payment deferrals after completing a forbearance plan decreased from 6,275 in July to 6,025 in August 2025.
- Initiated forbearance plans decreased from 8,030 in July to 7,781 in August 2025. The total number of loans in forbearance also decreased from 33,927 at the end of July to 33,523 at the end of August 2025, representing approximately 0.11 percent of the total loans serviced and 6.2 percent of the total delinquent loans.
The Enterprises' Mortgage Performance:
- The 30-59-day delinquency rate increased to 1.00 percent while the serious delinquency rate remained steady at 0.54 percent at the end of August 2025.
The Enterprises' Foreclosures:
- Third-party and foreclosure sales decreased slightly to 1,088 while foreclosure starts declined 4 percent to 7,745 in August 2025.
August 2025 Highlights - Refinance Activities
- Total refinance volume increased in August 2025, driven by relatively lower mortgage rates in July compared to the highs seen in May and June. Mortgage rates continued to ease in August, with the average interest rate on a 30-year fixed rate mortgage falling to 6.59 percent from 6.72 percent in July.
- Cash-out refinances as a percentage of refinances decreased from 65 percent in July to 63 percent in August 2025 after rising as high as 82 percent over the last three years.