Federal National Mortgage Association Fannie Mae (FNMA) Net Margin (2009 - 2026)

Federal National Mortgage Association Fannie Mae (FNMA) has 18 years of Net Margin data on file, last reported at 0.91% in Q1 2026.

• Net Margin for Q1 2026 came in at 0.91%, up 83.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 0.23% (up 19.0% YoY), and the FY2025 annual result was 0.03%, up 2.0% from the prior year.
• Net Margin improved to 0.91% in Q1 2026 per FNMA's latest filing, from 0.14% in the prior quarter.
• Over five years, Net Margin peaked at 0.91% in Q1 2026 and troughed at 0.19% in Q4 2023.
• A 5-year average of 0.07% and a median of 0.04% in 2022 frame the typical range for Net Margin.
• The sharpest annual moves came in 2022 and 2026: Net Margin plunged 32 bps in 2022, then jumped 83 bps in 2026.
• A 5-year view of Net Margin shows it stood at 0.15% in 2022, then slipped by 22 bps to 0.19% in 2023, then soared by 120 bps to 0.04% in 2024, then soared by 268 bps to 0.14% in 2025, then surged by 568 bps to 0.91% in 2026.
• Business Quant data shows FNMA's Net Margin at 0.91% in Q1 2026, 0.14% in Q3 2025, and 0.09% in Q2 2025.