by calculated risk September 27, 2024 05:32:00 PM
In today’s ‘Calculated Risk Real Estate’ newsletter: Fannie and Freddie: Serious delinquency rate among single-person households rises in August
A brief excerpt:
In August, serious delinquency among single-person households increased slightly, and serious delinquency among apartment complexes decreased slightly.
…Freddie Mac reported that the multifamily delinquency rate in August fell to 0.38% from 0.39% in July, and down from a recent peak of 0.44% in January.
This graph shows the severe delinquency rate for Freddy’s apartment complexes since 2012. After the housing bust and financial crisis, the rate remained high in 2012.
Multifamily housing rates rose after the pandemic and have recently risen as rent growth slowed, vacancy rates rose and borrowing costs rose sharply. These rates spiked in January and have remained at high levels, roughly flat, since then.
