April 2026 Highlights - Foreclosure Prevention
The Enterprises' Foreclosure Prevention Actions:
- The Enterprises completed 17,201 foreclosure prevention actions in April 2026, bringing the total to 7,394,446 since the start of the conservatorships in September 2008. Approximately 38.6 percent of these actions have been permanent loan modifications.
- There were 7,484 permanent loan modifications in April 2026, bringing the total to 2,857,741 since the conservatorships began in September 2008.
- Approximately 36.6 percent of loan modifications in April involved extend term only. Modifications with principal forbearance accounted for 62.0 percent of all loan modifications during the month.
- The number of borrowers who received payment deferrals after completing a forbearance plan decreased from 6,537 in March to 5,729 in April 2026.
- Initiated forbearance plans rose from 8,913 in March to 9,395 in April 2026. The total number of loans in forbearance also increased from 37,196 at the end of March to 37,517 at the end of April, representing approximately 0.12 percent of the total loans serviced and 7.10 percent of the total delinquent loans.
The Enterprises' Mortgage Performance:
- The 30-59-day delinquency rate increased to 0.94 percent while the serious delinquency rate decreased to 0.58 percent at the end of April 2026.
The Enterprises' Foreclosures:
- Third-party and foreclosure sales increased 3.2 percent to 1,325 while foreclosure starts declined 2.7 percent to 8,169 in April 2026.
April 2026 Highlights - Refinance Activities
- Total refinance volume increased in April 2026, despite the upward movement in mortgage rates. During the month, the average 30‑year fixed mortgage rate rose to 6.33 percent, compared with 6.18 percent in March.
- The share of cash‑out refinance transactions increased to 33.0 percent of total refinance activity in April 2026, though it remains well below the peak of 82.4 percent reached in September 2022.