July 2026 Highlights - Foreclosure Prevention
The Enterprises' Foreclosure Prevention Actions:
- The Enterprises completed 16,195 foreclosure prevention actions in July 2026, bringing the total to 7,441,879 since the start of the conservatorships in September 2008. Approximately 38.7 percent of these actions have been permanent loan modifications.
- There were 7,503 permanent loan modifications in July 2026, bringing the total to 2,878,935 since the conservatorships began in September 2008.
- Approximately 35.7 percent of loan modifications in July involved extend term only. Modifications with principal forbearance accounted for 62.3 percent of all loan modifications during the month.
- The number of borrowers who received payment deferrals after completing a forbearance plan rose from 4,545 in June to 4,993 in July 2026.
- Initiated forbearance plans rose from 8,657 in June to 9,798 in July 2026. The number of loans in forbearance also increased from 37,283 at the end of June to 38,002 at the end of July, representing approximately 0.12 percent of the total loans serviced and 7.00 percent of the total delinquent loans.
The Enterprises' Mortgage Performance:
- The 30–59‑day delinquency rate declined to 0.96 percent, while the serious delinquency rate held steady at 0.59 percent at the end of July 2026.
The Enterprises' Foreclosures:
- Third‑party and foreclosure sales remained flat at 1,403, while foreclosure starts declined 22.4 percent to 7,569 in July 2026.
July 2026 Highlights - Refinance Activities
- Total refinance volume decreased in July 2026 as mortgage rates moved higher. During the month, the average 30‑year fixed mortgage rate rose to 6.54 percent, compared with 6.49 percent in June.
- The share of cash‑out refinance transactions increased to 58.1 percent of total refinance activity in July 2026, though it remains well below the peak of 82.4 percent reached in September 2022.