2Q26 Highlights -- Foreclosure Prevention
The Enterprises' Foreclosure Prevention Actions:
- The Enterprises completed 48,439 foreclosure prevention actions in the second quarter of 2026, bringing the total to 7,425,684 since the start of conservatorships in September 2008. Of these actions, 6,718,452 have helped troubled homeowners stay in their homes, including 2,871,396 permanent loan modifications.
- Initiated forbearance plans decreased to 26,906 in the second quarter, from 27,477 in the first quarter of 2026. At quarter‑end, 37,283 loans remained in forbearance, representing approximately 0.12 percent of total loans serviced and 6.51 percent of total delinquent loans.
- Sixty three percent of modifications in the second quarter of 2026 were modifications with principal forbearance. Modifications that include extend-term only, accounted for 35.7 percent of all loan modifications during the quarter.
- There were 404 completed short sales and deeds-in-lieu during the quarter, bringing the total to 707,232 since the conservatorships began in September 2008.
The Enterprises' Mortgage Performance:
- The 60+ days delinquency rate increased from 0.81 percent at the end of the first quarter to 0.83 percent at the end of the second quarter of 2026.
- The Enterprises' serious (90 days or more) delinquency rate remained unchanged at 0.59 percent at the end of the second quarter of 2026. This compared with 6.07 percent for Federal Housing Administration (FHA) loans, 2.62 percent for Veterans Affairs (VA) loans, and 2.06 percent for all loans (industry average).
The Enterprises' Foreclosures:
- Foreclosure starts increased 1.9 percent to 25,908 while third-party and foreclosure sales rose 4.1 percent to 3,894 in the second quarter of 2026. For an interactive online map that provides state data, click on the following link:
Fannie Mae and Freddie Mac State Borrower Assistance Map
2Q26 Highlights -- Refinance Activities
- Total refinance volume declined in the second quarter of 2026 as mortgage rates moved higher. During the quarter, the average 30‑year fixed mortgage rate increased to 6.42 percent, compared with 6.11 percent in the first quarter.
- The share of cash‑out refinance transactions increased to 54.4 percent of total refinance activity in June 2026, though it remains well below the peak of 82.4 percent reached in September 2022.