We posted a new Refinance Test (2025 Q1) effective for all new loans, except for Small Balance Loans, starting today, March 28.

The implied 10-year forward rate is set at 4.93%. The expense growth rate varies based on economic conditions and property characteristics.

To access the new Refinance Test, visit our Refinance Test and Resources page. 

Please contact your Freddie Mac Multifamily representative with any questions