Multifamily Monthly Business Volumes Report
Multifamily Monthly New Business Volumes1
$ in billions (rounded)
| Month | 2025 | 2024 |
| January | 4.6 | 4.0 |
| February | 3.4 | |
| March | 2.6 | |
| April | 2.7 | |
| May | 2.7 | |
| June | 3.8 | |
| July | 4.8 | |
| August | 3.6 | |
| September | 4.8 | |
| October | 6.0 | |
| November | 6.9 | |
| December | 9.7 | |
| Total2 | 4.6 | 55.1 |
1 Multifamily new business volume reflects unpaid principal balance of new multifamily loans securitized or purchased as well as credit enhancements provided during the period. These figures will not agree to Fannie Mae MBS issued during the period, as Fannie Mae MBS issued also include portfolio securitizations and certain conversions that result in a new Fannie Mae MBS issuance without being a new loan and exclude credit enhancements.
2 Numbers may not foot due to rounding.
For more information, please contact your Fannie Mae representative.