FHFA Reduces Fannie Mae, Freddie Mac Multifamily Loan Purchase Caps for 2024
The Federal Housing Finance Agency (FHFA) announced today that the 2024 multifamily loan purchase caps for Fannie Mae and Freddie Mac (the Enterprises) will be $70 billion for each Enterprise, for a combined total of $140 billion to support the multifamily market.
The 2024 caps, which decreased from $75 billion for each Enterprise in 2023, are based on FHFA’s projections of the overall growth of the multifamily originations market.
At least 50% of the Enterprises’ multifamily loans are required to be used for affordable housing.
FHFA anticipates the 2024 cap levels will be appropriate given current market forecasts. However, FHFA will continue to monitor the multifamily mortgage market and increase the caps if necessary. If FHFA determines that the actual size of the 2024 market is smaller than initially projected, FHFA will not reduce the caps.
For 2024, FHFA will allow loans classified as supporting workforce housing properties to be exempt from the volume caps.
Latest from NAHBNow
IBS
Dec 31, 2025
Your Ultimate Guide to the 2026 International Builders’ ShowThe NAHB International Builders’ Show® (IBS) is where tens of thousands of residential construction pros from around the world come to see what’s new and what’s next in home building.
Education
Dec 30, 2025
NAHB's Most Engaging Shop Talk Sessions of 2025The most popular discussions featured topics such as the next generation of women in construction, social media strategies to elevate your business and the art of networking.
Latest Economic News
Economics
Dec 22, 2025
State-Level Employment Situation: September 2025In September 2025, nonfarm payroll employment was largely unchanged across states on a monthly basis, with a limited number of states seeing statistically significant increases or decreases. This reflects generally stable job counts across states despite broader labor market fluctuations. The data were impacted by collection delays due to the federal government shutdown.
Economics
Dec 19, 2025
Existing Home Sales Edge Higher in NovemberExisting home sales rose for the third consecutive month in November as lower mortgage rates continued to boost home sales, according to the National Association of Realtors (NAR). However, the increase remained modest as mortgage rates still stayed above 6% while down from recent highs. The weakening job market also weighed on buyer activity.
Economics
Dec 18, 2025
Lumber Capacity Lower Midway Through 2025Sawmill production has remained essentially flat over the past two years, according to the Federal Reserve G.17 Industrial Production report. This most recent data release contained an annual revision, which resulted in higher estimates for both production and capacity in U.S. sawmills.