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
Safety
Nov 28, 2025
Keep Workers Safe and Warm on Winter JobsitesWith Fall set in across the country and winter rapidly approaching, it is important to know the dangers of cold stress and the best ways to stay safe and warm on your jobsites.
Economics
Nov 26, 2025
The No. 1 Factor Driving Home ValuesSquare footage, curb appeal and bedroom count only tell part of the story when it comes to the value of a single-family home. Arguably, the biggest factor is where the home is located.
Latest Economic News
Economics
Nov 26, 2025
Property Taxes by State – 2024Nationally, across the 87 million owner-occupied homes in the U.S., the average amount of annual real estate taxes paid in 2024 was $4,271, according to NAHB analysis of the 2024 American Community Survey.
Economics
Nov 25, 2025
Share of New Homes with Decks Edges LowerThe share of new homes with decks edged down from 17.6% in 2023 to a new all-time low of 17.4% in 2024, according to NAHB tabulation of data from the HUD/Census Bureau Survey of Construction (SOC).
Economics
Nov 25, 2025
Building Material Prices Continued to Rise in SeptemberAggregate residential building material prices rose at their fastest pace since January 2023 in the latest Producer Price Index release from the Bureau of Labor Statistics. Input energy prices increased for the first time in over a year, while service price growth remained lower than goods.