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Foreclosure Prevention Report - First Quarter 201620477<h2>​​​​First Quarter 2016 Highlights</h2><div><strong><br></strong></div><div><strong>The Enterprises' Foreclosure Prevention Actions&#58;</strong></div><div><br></div><ul><li><span style="line-height&#58;22px;">The Enterprises completed 49,573 foreclosure prevention actions in&#160;</span><span style="line-height&#58;22px;">the first quarter of 2016, bringing the total to 3,693,022 since the start&#160;</span><span style="line-height&#58;22px;">of conservatorships in September 2008. Of these actions, 3,045,413&#160;</span><span style="line-height&#58;22px;">have helped troubled homeowners stay in their homes including&#160;</span><span style="line-height&#58;22px;">1,930,635 permanent loan modifications.&#160;</span></li><li><span style="line-height&#58;22px;"></span><span style="line-height&#58;22px;">Approximately 29 percent of all permanent loan modifications in the&#160;</span><span style="line-height&#58;22px;">first quarter helped to reduce homeowners' monthly payments by over&#160;</span><span style="line-height&#58;22px;">30 percent.</span></li><li><span style="line-height&#58;22px;"></span><span style="line-height&#58;22px;">The share of modifications with principal forbearance remained at 19&#160;</span><span style="line-height&#58;22px;">percent. Modifications with extend-term only accounted for 48 percent&#160;</span><span style="line-height&#58;22px;">of all loan modifications in the first quarter due to improved house&#160;</span><span style="line-height&#58;22px;">prices and a declining HAMP eligible population.</span></li><li><span style="line-height&#58;22px;"></span><span style="line-height&#58;22px;">As of March 31, 2016, approximately 20 percent of loans modified in&#160;</span><span style="line-height&#58;22px;">the first quarter of 2015 had missed two or more payments, one year&#160;</span><span style="line-height&#58;22px;">after modification.</span></li><li><span style="line-height&#58;22px;"></span><span style="line-height&#58;22px;">There were 7,327 completed short sales and deeds-in</span><span style="line-height&#58;22px;">-lieu during the&#160;</span><span style="line-height&#58;22px;">quarter, bringing the total to 647,609 since the conservatorships began&#160;</span><span style="line-height&#58;22px;">in September in 2008.</span></li></ul><p><strong>The Enterprises' Mortgage Performance&#58;</strong></p><p></p><ul><li><span style="line-height&#58;22px;">The n</span><span style="line-height&#58;22px;">umber of 60+ days delinquent loans further declined 10 percent&#160;</span><span style="line-height&#58;22px;">to 461,696 at the end of the first quarter, which remai</span><span style="line-height&#58;22px;">ns the lowest&#160;</span><span style="line-height&#58;22px;">level since the first quarter of 2008.</span></li><li><span style="line-height&#58;22px;"></span><span style="line-height&#58;22px;">The Enterprises' serious delinquency rate fell to 1.3 percent at the end&#160;</span><span style="line-height&#58;22px;">of the first quarter, which is the lowest level since the start of&#160;</span><span style="line-height&#58;22px;">conservatorships. This compared with 4.9 percent for Federal Housing&#160;</span><span style="line-height&#58;22px;">Administration (FHA) loans, 2.5 percent for Veterans Affairs (VA) loans&#160;</span><span style="line-height&#58;22px;">and 3.3 percent for all loans (Industry average).</span></li></ul><p></p><p><strong>​The Enterprises' Foreclosures&#58;</strong></p><ul><li><span style="line-height&#58;22px;">​</span><span style="line-height&#58;22px;">​</span><span style="line-height&#58;22px;">Foreclosure starts decreased 6 percent to 60,706 while third-party&#160;and foreclosure sales fell slightly to 24,954 in the first quarter.</span></li><li><span style="line-height&#58;22px;"></span><span style="line-height&#58;22px;">REO inventory fell 9 percent during the quarter to 66,277, as property&#160;dispositions continued to outpace property acquisitions.</span></li></ul><p><em>For an interactive online map that provides state data, click on the following link&#58; &#160;</em><a href="/DataTools/Tools/Pages/Borrower-Assistance-Map.aspx"><em>Fannie Mae and Freddie Mac State Borrower Assistance Map</em></a>​​​</p><p></p>6/23/2016 3:01:06 PM124http://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index Report - April 201620467<p style="font&#58;14px/22px &quot;source sans pro&quot;, sans-serif;margin&#58;0px 0px 10px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040 !important;text-transform&#58;none;text-indent&#58;0px;letter-spacing&#58;normal;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;widows&#58;1;font-size-adjust&#58;none;font-stretch&#58;inherit;background-color&#58;#ffffff;">U.S. house prices rose in April, up 0.2 percent on a seasonally adjusted basis from the previous month.&#160; From April 2015 to April 2016, house prices were up 5.9 percent.&#160; For the nine census divisions, seasonally adjusted monthly price changes from March 2016 to&#160;April 2016 ranged from -0.7 percent in the Middle Atlantic division to +1.4 percent in the New England division. The 12-month changes were all positive, ranging from +1.7 percent in the Middle Atlantic division to +8.6 percent in the Pacific division.</p><p style="font&#58;14px/22px &quot;source sans pro&quot;, sans-serif;margin&#58;0px 0px 10px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040 !important;text-transform&#58;none;text-indent&#58;0px;letter-spacing&#58;normal;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;widows&#58;1;font-size-adjust&#58;none;font-stretch&#58;inherit;background-color&#58;#ffffff;">Monthly index values and appreciation rate estimates for recent periods are provided in the table and graphs in the attachment.</p> <a href="/Media/PublicAffairs/Pages/FHFA-House-Price-Index-Up-0pt2-Percent-in-April-2016.aspx" target="_blank"> Related News Release<p>&#160;</p></a> 6/22/2016 1:04:12 PM594http://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Refinance Report - April 201620835<h1>April 2016 Highlights</h1><p>Total refinance volume increased in April 2016 after a decrease in mortgage rates in the first quarter.&#160; </p><p>Mortgage rates decreased in April&#58; the average interest rate on a 30‐year fixed rate mortgage fell to 3.61 percent from 3.69 percent in March.<br></p><p>In April 2016&#58;</p><ul><li>Borrowers completed 6,347 refinances through HARP, bringing total refinances from the inception of the program to 3,406,890.</li><li> HARP volume represented four percent of total refinance volume.</li><li> Six percent of the loans refinanced through HARP had a loan-to‐value ratio greater than 125 percent.<br></li></ul><p>Year to date though April 2016&#58;</p><ul><li>Borrowers with loan‐to‐value ratios greater than 105 percent accounted for 22 percent of the volume of HARP loans. </li><li>Twenty six percent of HARP refinances for underwater&#160;borrowers were for shorter‐term 15‐ and 20‐year mortgages, which build equity faster than traditional 30‐year mortgages.</li><li>HARP refinances represented 10 or more percent of total refinances in Florida and Georgia, more than double the 4 percent of total refinances nationwide over the same period.</li></ul><p>Borrowers who refinanced through HARP had a lower delinquency rate compared to borrowers eligible for HARP who did not refinance through the program.<br> Ten states accounted for over 60 percent of the nation's HARP eligible loans with a refinance incentive as of December 31, 2015.&#160;</p>6/14/2016 5:00:10 PM274http://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index Report - 1Q2016 / March19722<p>U.S. house prices rose&#160;1.3 percent&#160;in the first quarter of 2016&#160;according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI).&#160; This is the nineteenth consecutive quarterly price increase in the purchase-only, seasonally adjusted index.&#160; FHFA's seasonally adjusted monthly index for March was up&#160;0.7&#160;percent&#160;from February.&#160; The HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac. FHFA has produced a <a href="https&#58;//youtu.be/wKe9YgGVALs">video of highlights</a> for this quarter.</p><p style="border&#58;0px;font-stretch&#58;inherit;font-size&#58;14px;line-height&#58;22px;font-family&#58;'source sans pro', sans-serif;vertical-align&#58;baseline;padding&#58;0px;color&#58;#404040 !important;background-color&#58;#ffffff;"></p><p>​While the&#160;purchase-only HPI rose&#160;5.7&#160;percent&#160;from the first quarter of 2015 to the first quarter of 2016,&#160;prices of other goods and services were nearly unchanged.&#160; The inflation-adjusted price of homes thus rose approximately 5.6&#160;percent over the latest year.</p><p><strong>Significant Findings</strong></p><div><ul><li><p>Home prices rose in every state between the first quarter of 2015 and the first quarter of 2016. &#160;The top five states in annual appreciation were&#58; &#160;1) Oregon 11.8 percent; 2) Florida 11.2 percent; 3) Washington 10.9 percent; 4) Nevada 9.4 percent; and 5) Colorado 9.0 percent.</p></li><li><p>Among the 100 most populated metropolitan areas in the U.S., annual price increases were greatest in the West Palm Beach-Boca Raton-Delray Beach, FL (MSAD), where prices increased by 16.7 percent. &#160;Prices were weakest in El Paso, TX, where they fell 2.8 percent.</p></li><li><p>Of the nine census divisions, the Pacific division experienced the strongest increase in the first quarter, posting a 1.9 percent quarterly increase and an 8.1 percent increase since the first quarter of last year. &#160;House price appreciation was weakest in the Middle Atlantic division, where prices rose 0.6 percent from the last quarter.&#160;</p></li></ul></div><p style="border&#58;0px;font-stretch&#58;inherit;font-size&#58;14px;line-height&#58;22px;font-family&#58;'source sans pro', sans-serif;vertical-align&#58;baseline;padding&#58;0px;color&#58;#404040 !important;background-color&#58;#ffffff;"><span style="font-family&#58;inherit;font-size&#58;inherit;font-style&#58;inherit;font-variant&#58;inherit;line-height&#58;inherit;"><a href="/Media/PublicAffairs/Pages/US-House-Prices-Rise-1pt3-Percent-in-First-Quarter-2016.aspx">Related News Release</a>​</span><br></p><p></p>5/25/2016 1:00:53 PM2591http://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Refinance Report - First Quarter 201620099<font face="Calibri"><font face="Calibri"></font><font color="#000000" face="Times New Roman" size="3"> </font><h2>First Quarter 2016 Highlights&#160;</h2><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin&#58;0in 0in 10pt;"><font color="#000000" face="Calibri" size="3">Total refinance volume increased in March 2016 after a decrease in mortgage rates in January and February. Mortgage rates rose in March&#58; </font><font color="#000000" face="Calibri" size="3">the average interest rate on a 30‐year fixed rate mortgage rose to 3.69 percent from 3.66 percent in February.</font></p><p><font color="#000000" face="Times New Roman" size="3"> </font><font color="#000000" face="Calibri" size="3">In the first quarter of 2016&#58;</font></p><ul><ul><li dir="ltr" style="text-align&#58;left;"><div style="margin&#58;0in 0in 10pt;"><font color="#000000" face="Calibri" size="3">Borrowers completed 19,989 refinances through HARP,bringing total refinances from the inception of the program to 3,400,543.</font></div></li><font color="#000000" face="Times New Roman" size="3"></font><li dir="ltr" style="text-align&#58;left;"><div style="margin&#58;0in 0in 10pt;"><font color="#000000" face="Calibri" size="3">HARP volume represented 5 percent of total refinance volume.</font></div></li><font color="#000000" face="Times New Roman" size="3"></font><li dir="ltr" style="text-align&#58;left;"><div style="margin&#58;0in 0in 10pt;"><font color="#000000" face="Calibri" size="3">Borrowers with loan‐to‐value ratios greater than 105 percent accounted for 22 percent of the volume of HARP loans.</font></div></li><font color="#000000" face="Times New Roman" size="3"></font><li dir="ltr" style="text-align&#58;left;"><div style="margin&#58;0in 0in 10pt;"><font color="#000000" face="Calibri" size="3">Twenty five percent of HARP refinances for underwater borrowers were for shorter‐term 15‐ and 20‐year mortgages, which build equity faster than traditional 30‐year mortgages.</font></div></li><font color="#000000" face="Times New Roman" size="3"></font><li dir="ltr" style="text-align&#58;left;"><div style="margin&#58;0in 0in 10pt;"><font color="#000000" face="Calibri" size="3">HARP refinances represented 10 or more percent of total refinances in Florida and Georgia, double the 5 percent of total refinances nationwide over the same period.</font></div></li></ul></ul><font color="#000000" face="Times New Roman" size="3"> </font><p style="margin&#58;0in 0in 10pt;"><font color="#000000" face="Calibri" size="3">In March 2016, 6 percent of the loans refinanced through HARP had a loan‐to‐value ratio greater than 125 percent.</font></p><font color="#000000" face="Times New Roman" size="3"></font><p style="margin&#58;0in 0in 10pt;"><font color="#000000" face="Calibri" size="3">Borrowers who refinanced through HARP had a lower delinquency rate compared to borrowers eligible for HARP who did not refinance through the program.</font></p><font color="#000000" face="Times New Roman" size="3"></font><p style="margin&#58;0in 0in 10pt;"><font color="#000000" face="Calibri" size="3">Ten states accounted for over 60 percent of the nation's HARP eligible loans with a refinance incentive as of December 31, 2015.</font></p><font color="#000000" face="Times New Roman" size="3"> </font></font>5/16/2016 5:19:49 PM372http://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention Report - February 201620059<h3>February 2016 Highlights </h3><p> <strong>The Enterprises' Foreclosure Prevention Actions&#58; </strong> </p><ul><li>The Enterprises completed 16,208 foreclosure prevention actions in February 2016, bringing the total to 3,674,849 since the start of the conservatorships in September 2008. Over half of these actions have been permanent loan modifications. </li><li>There were 10,095 permanent loan modifications in February, bringing the total to 1,918,846 since the conservatorships began in September 2008. </li><li>The share of modifications with principal forbearance decreased to 18 percent. Modifications with extend-term only remained at 48 percent of all permanent modifications in February due to improved house prices and a declining HAMP eligible population. </li><li>There were 2,235 short sales and deeds-in-lieu completed in February, down 4 percent compared with January. </li></ul><p> <strong>The Enterprises' Mortgage Performance&#58; </strong><br> </p><ul><li>The serious delinquency rate decreased from 1.47 percent at the end of January to 1.42 percent at the end of February. </li></ul><p> <strong>The Enterprises' Foreclosures&#58;</strong> <br> </p><ul><li>Third-party and foreclosure sales declined 15 percent from 9,062 in January to 7,716 in February. </li><li>Foreclosure starts increased 20 percent from 17,831 in January to 21,369 in February. </li></ul>5/10/2016 5:00:36 PM375http://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index - February 201619762<p>U.S. house prices rose in February, up 0.4 percent on a seasonally adjusted basis from the previous month.&#160; From February 2015 to February 2016, house prices were up 5.6 percent.&#160; For the nine census divisions, seasonally adjusted monthly price changes from January 2016 to February 2016 ranged from -0.7 percent in the South Atlantic division to +1.7 percent in the Middle Atlantic division. The 12-month changes were all positive, ranging from +2.5 percent in the New England division to +8.4 percent in the Pacific division.</p><p>Monthly index values and appreciation rate estimates for recent periods are provided in the table and graphs in the attachment.</p><p> <a href="/Media/PublicAffairs/Pages/FHFA-House-Price-Index-Up-0-4-Percent-in-February.aspx">​​Related News Release</a>​</p>4/29/2016 8:10:17 PM2568http://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Refinance Report - February 201619014<h2>​February 2016 Highlights</h2><div><p></p><ul><li><span style="line-height&#58;22px;">​​</span><span style="line-height&#58;22px;">Total refinance volume continued to decrease in February 2016 as&#160;</span><span style="line-height&#58;22px;">mortgage rates remained just under 4 percent over the&#160;previous three&#160;</span><span style="line-height&#58;22px;">months. Mortgage rates decreased in February&#58; the average interest&#160;</span><span style="line-height&#58;22px;">rate on a 30‐year fixed rate mortgage fell to 3.66 percent from 3.87&#160;</span><span style="line-height&#58;22px;">percent in January.​</span><br></li></ul></div><blockquote style="margin&#58;0px 0px 0px 40px;border&#58;none;padding&#58;0px;"><div><p><span style="font-style&#58;normal;font-variant&#58;normal;line-height&#58;22px;">​​In February 2016&#58;</span></p></div></blockquote><ul><ul><li><span style="line-height&#58;22px;">Borrowers completed 6,424 refinances through HARP, bringing&#160;</span><span style="line-height&#58;22px;">total refinances from the inception of the program to 3,393,217.</span></li><li><span style="line-height&#58;22px;">HARP volume represented 5 percent of total refinance volume.</span></li><li><span style="line-height&#58;22px;">Nine percent of the loans refinanced through HARP had a&#160;</span><span style="line-height&#58;22px;">loan‐to‐value ratio greater than 125 percent.</span></li></ul></ul><blockquote style="margin&#58;0px 0px 0px 40px;border&#58;none;padding&#58;0px;"><p>​Year to date through February 2016&#58;</p></blockquote><ul><ul><li><span style="line-height&#58;22px;">Borrowers with loan‐to‐value ratios greater than 105 percent&#160;</span><span style="line-height&#58;22px;">accounted for 23 percent of the volume of HARP loans.</span></li><li><span style="line-height&#58;22px;">Twenty five percent of HARP refinances for underwater&#160;</span><span style="line-height&#58;22px;">borrowers were for shorter‐term 15‐ and 20‐year mortgages,&#160;</span><span style="line-height&#58;22px;">which build equity faster than traditional 30‐year mortgages</span><span style="line-height&#58;22px;">.</span></li><li><span style="line-height&#58;22px;">HARP refinances represented 10 or more percent of total&#160;</span><span style="line-height&#58;22px;">refinances in Florida and Georgia, double the 5 percent of total&#160;</span><span style="line-height&#58;22px;">refinances nationwide over the same period.</span></li></ul></ul><p><span style="line-height&#58;22px;"></span></p><p><span style="line-height&#58;22px;"></span></p><ul><li><span style="line-height&#58;22px;">Borrowers who refinanced through HARP had a lower delinquency&#160;</span><span style="line-height&#58;22px;">rate compared to borrowers eligible for HARP who did not refinance&#160;</span><span style="line-height&#58;22px;">through the program.</span><br></li><li><span style="line-height&#58;22px;">Ten states accounted for over 60 percent of the nation's HARP&#160;</span><span style="line-height&#58;22px;">eligible loans with a refinance incentive as of September 30, 2015.​</span><br></li></ul><p><span style="line-height&#58;22px;"></span></p>4/13/2016 3:00:45 PM1070http://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention Report - January 201619010<h2>​January 2016 Highlights</h2><p><strong>​The Enterprises' Foreclosure Prevention Actions&#58; </strong></p><ul><li>The Enterprises completed 15,192 foreclosure prevention actions in January 2016, bringing the total to 3,658,641 since the start of the conservatorships in September 2008. Over half of these actions have been permanent loan modifications. </li><li>There were 9,925 permanent loan modifications in January, bringing the total to 1,908,751 since the conservatorships began in September 2008. </li><li>The share of modifications with principal forbearance remained at 19 percent. Modifications with extend-term only accounted for 48 percent of all permanent modifications in January due to improved house prices and a declining HAMP eligible population. </li><li>There were 2,329 short sales and deeds-in-lieu completed in January, down 14 percent compared with December.</li></ul><p><strong>The Enterprises' Mortgage Performance&#58; </strong></p><ul><li> The serious delinquency rate increased slightly from 1.46 percent at the end of December to 1.47 percent at the end of January. </li></ul><p><strong>The Enterprises' Foreclosures&#58; </strong> </p><ul><li>Third-party and foreclosure sales increased 13 percent from 8,051 in December to 9,062 in January. </li><li>Foreclosure starts dropped 24 percent from 23,593 in December to 17,831 in January. </li></ul>4/12/2016 5:00:41 PM1018http://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention Report - Fourth Quarter 201520499<h1>​Fourth Quarter 2015 Highlights</h1><p><strong>​</strong></p><p><strong>The Enterprises' Foreclosure Prevention Actions&#58;</strong></p><ul><li>The Enterprises completed 47,769 foreclosure prevention actions in the fourth quarter of 2015, bringing the total to 3,643,449 since the start of conservatorships in September 2008. Of these actions, 3,003,167 have helped troubled homeowners stay in their homes including 1,898,826 permanent loan modifications. </li><li>Approximately 30 percent of all permanent loan modifications in the fourth quarter helped to reduce homeowners' monthly payments by over 30 percent.</li><li>The share of modifications with principal forbearance remained at 19 percent. Modifications with extend-term only increased slightly to 48 percent of all loan modifications in the fourth quarter due to improved house prices and a declining HAMP eligible population.</li><li>As of December 31, 2015, approximately 20 percent of loans modified in the fourth quarter of 2014 had missed two or more payments, one year after modification.</li><li>There were 7,598 completed short sales and deeds-in-lieu during the quarter, bringing the total to 640,282 since the start of conservatorships.</li></ul><p>&#160;</p><p><strong>The Enterprises' Mortgage Performance&#58;</strong></p><ul><li>The number of 60+ days delinquent loans declined 3 percent to 515,420 at the end of the fourth quarter, which is the lowest level since the first quarter of 2008.</li><li>The Enterprises' serious delinquency rate fell below 1.5 percent at the end of the fourth quarter, compared with 5.4 percent for Federal Housing Administration (FHA) loans, 2.8 percent for Veterans Affairs</li><li>(VA) loans and 3.4 percent for all loans (Industry average).</li></ul><p>&#160;</p><p><strong>The Enterprises' Foreclosures&#58;</strong></p><ul><li>Foreclosure starts decreased 2 percent to 64,852 while third-party and foreclosure sales fell 7 percent to 25,096 in the fourth quarter.</li><li>REO inventory fell 6 percent during the quarter to 72,783, as property dispositions continued to outpace property acquisitions.</li></ul><p><a href="/Media/PublicAffairs/Pages/Foreclosure-Prevention-Actions-Top-3pt6-Million.aspx">Related News Release</a>​</p>3/24/2016 2:35:29 PM422http://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx

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