August 2026 Highlights - Foreclosure Prevention
The Enterprises' Foreclosure Prevention Actions:
- The Enterprises completed 16,335 foreclosure prevention actions in August 2026, bringing the total to 7,458,214 since the start of the conservatorships in September 2008. Approximately 38.7 percent of these actions have been permanent loan modifications.
- There were 7,675 permanent loan modifications in August 2026, bringing the total to 2,886,610 since the conservatorships began in September 2008.
- Approximately 36.5 percent of loan modifications in August involved extend term only. Modifications with principal forbearance accounted for 61.2 percent of all loan modifications during the month.
- The number of borrowers who received payment deferrals after completing a forbearance plan rose from 4,993 in July to 5,233 in August 2026.
- Initiated forbearance plans declined slightly, from 9,798 in July to 9,776 in August 2026. However, the number of loans in forbearance increased from 38,002 at the end of July to 38,861 at the end of August, representing approximately 0.13 percent of the total loans serviced and 6.81 percent of the total delinquent loans.
The Enterprises' Mortgage Performance:
- The 30–59‑day delinquency rate rose to 1.03 percent, while the serious delinquency rate increased to 0.60 percent at the end of August 2026.
The Enterprises' Foreclosures:
- Third‑party and foreclosure sales declined 5.0 percent to 1,333, while foreclosure starts rose 18.0 percent to 8,930 in August 2026.
August 2026 Highlights - Refinance Activities
- Total refinance volume continued to decrease in August 2026 as mortgage rates moved higher. During the month, the average 30‑year fixed mortgage rate rose to 6.67 percent, compared with 6.54 percent in July.
- The share of cash‑out refinance transactions declined modestly to 58.0 percent of total refinance activity in August 2026, well below the record high of 82.4 percent observed in September 2022.