Fannie and Freddie to Expand Support for Rental Housing
The Federal Housing Finance Agency (FHFA) announced today that the 2025 multifamily loan purchase caps for Fannie Mae and Freddie Mac (the Enterprises) will be $73 billion for each Enterprise, for a combined total of $146 billion to support the multifamily market. The 2025 caps represent more than a 4% increase from 2024.
Just like in 2024, when the cap for each Enterprise was $70 billion, multifamily loans that finance workforce housing will be excluded from the 2025 limits.
Over the past year, since workforce housing was first exempted from the caps, both Enterprises have seen encouraging growth in this critical market segment. In addition, FHFA will continue to require that at least 5% of the Enterprises’ multifamily businesses be mission-driven.
FHFA will continue to monitor the multifamily mortgage market and maintains the ability to raise the caps further if necessary to support liquidity in the market. However, to prevent market disruption, if FHFA determines that the actual size of the 2025 market is smaller than was initially projected, FHFA will not lower the caps.
Latest from NAHBNow
Advocacy
Jan 12, 2026
NAHB’s Monthly Update Features 2026 Advocacy PrioritiesThe update provides the latest messaging framework to help members articulate the Federation's housing priorities.
Awards | IBS | National Sales and Marketing Council | 55+ Housing
Jan 09, 2026
Finalists Announced for the 2025 The Nationals AwardsNAHB announced the Silver Winners for The Nationals, powered by Chase. These awards celebrate the best in new-home sales and marketing and include 55+ housing, global innovation and NAHB Honors.
Latest Economic News
Economics
Jan 12, 2026
Household Real Estate Asset Values Fall in the Third QuarterThe market value of household real estate assets fell to $48.0 trillion in the third quarter of 2025, according to the most recent release of U.S. Federal Reserve Z.1 Financial Accounts. The third quarter value is 0.7% lower than the second quarter but is 1.5% higher than a year ago.
Economics
Jan 12, 2026
Growth for Custom Home BuildingNAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates year-over year growth for custom home builders amid broader single-family home building weakness.
Economics
Jan 09, 2026
Townhouse Construction Share Gains ContinueAccording to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, during the third quarter of 2025, single-family attached starts totaled 46,000. Over the last four quarters, townhouse construction starts totaled a strong 179,000 homes, which is 1% higher than the prior four-quarter period (177,000). Townhouses made almost 20% all of single-family housing starts for the third quarter of the year.