Freddie Mac's Mortgage Portfolio Grows To $3.67T As Credit Performance Holds Steady
Freddie Mac’s December 2025 volume summary shows continued growth in its mortgage and investment portfolios, with credit performance remaining largely stable as the year ended
Freddie Mac has released its December 2025 Monthly Volume Summary, showing continued expansion in its mortgage holdings and relatively stable credit performance as the year closed. The data highlights stronger portfolio volumes, modest shifts in delinquency rates, and ongoing investment activity across mortgage-related assets.
The total mortgage portfolio ended December 2025 at approximately $3.674 trillion, marking an annualized growth rate of 6.5% for the month. This represents a notable increase from the prior month and continued year-over-year expansion in Freddie Mac’s holdings of conventional mortgage loans. Year-to-date figures for 2025 show total mortgage portfolio activity of roughly $467 billion in gross volume.
Freddie Mac’s mortgage-related investments portfolio also expanded steadily through December. The portfolio — consisting of agency and non-agency securities as well as mortgage loans — finished the month at about $139 billion, supported by robust purchases throughout 2025 and a 37.9% annualized growth rate. This broad investment approach reflects Freddie Mac’s strategic positioning in mortgage-backed securities (MBS).
Credit quality metrics remained stable, as the single-family delinquency rate ticked up slightly from 0.58% in November to 0.59% in December, while the multifamily delinquency rate declined from 0.48% to 0.44%. Delinquency figures for the overall mortgage portfolio, including credit-enhanced segments, held near historically low levels, indicating continued performance resilience in core loan products.
Additional indicators from the report show Freddie Mac’s exposure to interest rate risk and duration gap remained material considerations in risk management strategies, while exposure to Fannie Mae-issued backed securities re-securitized by Freddie Mac stood at roughly $98 billion. The report reiterates that the company continues to operate under Federal Housing Finance Agency conservatorship, a status in place since 2008.
Overall, Freddie Mac’s December data suggests growth across mortgage purchase and guarantee activities, with credit performance metrics holding steady as the housing finance entity navigates prevailing market conditions.