Fannie Mae and Freddie Mac are experiencing a spike in losses on loans for apartment buildings as the commercial real estate market continues to deteriorate, The Wall Street Journal reports. Fannie Mae, the more active of the two in the residential multi-unit sector, has seen delinquency rates for loans 60 days or older soar to 0.62% at the end of September, compared with 0.16% a year earlier. Roughly 25% of Fannie's $180 billion of apartment-building loans originated in 2007, at the market's peak, and those loans account for almost half of the delinquencies.

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