Freddie Mac posted a 13% increase in multifamily originations in the second quarter, the government-sponsored enterprise reported Tuesday. According to the company, it originated nearly $16 billion in multifamily guarantees in Q2 and increased its interest income from the multifamily by 8%.

Freddie's multifamily segment continues to put up strong performance numbers. Multifamily loans are still exhibiting a functionally non-existent delinquency rate at 0.01%.

Thanks to great performance on its now $220 billion multifamily portfolio, Freddie netted $293 million in interest income in Q2 representing a roughly 8% boost in interest income over last year’s $271 million in interest income.

“Freddie Mac’s transformation continued in the second quarter, with good business results and similarly good financial performance. In business operations, our guarantee book grew significantly, credit quality was high, and we are generating a consistent stream of new innovations for our customers. On the financial side, we produced strong earnings with a growing track record of quarterly stability. These together provide the foundation necessary so Freddie Mac can effectively deliver on all aspects of its mission and, more broadly, improve America's housing finance system,” Freddie Mac CEO Donald Layton said in a statement.

All told, Freddie provided liquidity for approximately 342,000 rental units this year as opposed to 332,000 last year.

Freddie's performance this quarter is indicative of a multifamily industry that is still going strong. Demand remains high thanks to good job growth, high home prices, lifestyle changes and other factors while a constricting pipeline ensures that the demand is funneled into existing units and keeps rents high.