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Welcome to the Industry page of FHFA’s website.  This page provides consolidated resources for small and large companies, trade groups, advocacy organizations, vendors, originators, servicers, investors, and mortgage insurers, among others who are interested in the nation’s housing finance system. 

 

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FHFA Index Shows Mortgage Interest Rates Flat in July10895<p><strong>Washington, D.C.</strong> – Nationally, interest rates on mortgages showed little change from June to July, according to an index of new mortgage contracts. </p><p>According to the Federal Housing Finance Agency (FHFA), the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders index was 4.09 percent for loans closed in late July, up 1 basis point from 4.08 percent in June. &#160;The index is calculated using FHFA's Monthly Interest Rate Survey.&#160; For June and July, the contract rate on the composite of all mortgage loans was 4.09 percent.</p><p>Interest rates are typically locked in 30-45 days before a loan is closed.&#160; Consequently, the July index reflects market rates from mid- to late-June. The effective interest rate was 4.25 percent in July, up 1 basis point from 4.24 percent in June. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.</p><p>For June and July, FHFA's interest rate survey shows the average interest rate on conventional, 30-year, fixed-rate mortgages of either $417,000 or less was 4.34 percent. The average loan amount for all loans was $287,800 in July, down $4,400 from $292,200 in June.</p><p>FHFA will release August index values Tuesday, September 30, 2014.</p><p>For more information, call David Roderer at (202) 649-3206. You can hear recorded index information by calling (202) 649-3993. You can find the complete contract rate series at <a href="/DataTools/Downloads/Pages/Monthly-Interest-Rate-Data.aspx">http&#58;//www.fhfa.gov/DataTools/Downloads/Pages/Monthly-Interest-Rate-Data.aspx</a> .</p><p style="text-align&#58;center;"><img src="/Media/PublicAffairs/PublishingImages/Pages/FHFA-Index-Shows-Mortgage-Interest-Rates-Flat-in-July/8.28.2014_MIRS_Release_Graph.png" alt="8.28.2014_MIRS_Release_Graph.png" style="margin&#58;5px;" /><br></p><p style="text-align&#58;center;"><em>Source&#58;&#160; FHFA</em></p><p style="text-align&#58;left;">Technical note&#58; The index is based on a small monthly survey of mortgage lenders, which may not be representative. The sample is not a statistical sample but is rather a convenience sample. Survey respondents were asked to report terms and conditions of all conventional, single-family, fully amortized purchase-money loans closed during the last five working days of the month. The index does not include mortgages either guaranteed or insured by either the Federal Housing Administration or the U.S. Department of Veterans Affairs. The index also excluded refinancing loans and balloon loans.&#160; July 2014 values are based on 6,024 reported loans from 27 lenders, which include savings associations, mortgage companies, commercial banks, and mutual savings banks. The effective interest rate includes the amortization of initial fees and charges over a 10-year period (the historical assumption of the average life of a mortgage loan).​</p>8/28/2014 12:30:29 PM489http://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx
Refinances Tick Up in June11204<p>​​​Washington, DC – The Federal Housing Finance Agency (FHFA) today reported that the total volume of mortgage refinances increased slightly in June as mortgage rates decreased from May, according to FHFA's <a href="/AboutUs/Reports/Pages/Refinance-Report-Second-Quarter-2014.aspx">Second Quarter 2014 <em>Refinance Report</em>.</a>&#160; Total refinance volume for the second quarter topped 344,000, while refinances through the Home Affordable Refinance Program (HARP) exceeded 54,000.&#160; </p><p>Since 2009, more than 19.5 million mortgage refinances have been completed through Fannie Mae and Freddie Mac, including more than 3.1 million through HARP. &#160;FHFA estimates that as of first quarter 2014, there are roughly 810,069 borrowers who are still eligible and have a financial incentive to refinance their homes through HARP.&#160; Nationwide, these borrowers could save an average of almost $2,300 per year on their mortgage.&#160; In an effort to reach these borrowers, FHFA recently held town-hall style events in Chicago and Atlanta with local community and civic leaders, who are sharing information about HARP with homeowners. &#160;FHFA is planning future HARP outreach events for Detroit and Miami.&#160; See the <a href="http&#58;//www.harp.gov/Default.aspx?Page=363">U.S. map of HARP-eligible borrowers by metro area.</a></p><p>Also in the second quarter 2014 report&#58;</p><ul><li style="padding&#58;0px;margin&#58;0px;"><p>HARP volume represented 16 percent of total refinance volume in the second quarter of 2014.<br></p></li><li style="padding&#58;0px;margin&#58;0px;"><p>More than 25 percent of all HARP refinances for underwater borrowers (those with a loan-to-value ratio greater than 105 percent) were for 15- and 20-year mortgages through the second quarter.<br></p></li><li style="padding&#58;0px;margin&#58;0px;"><p>Year-to-date through June 2014, HARP continued to account for a substantial portion of refinance volume in certain states.&#160; HARP refinances represented 37 percent of total refinances in Georgia and 35 percent of total refinances in Florida, nearly double the 18 percent of total refinances nationwide over the same period.​</p></li></ul><p><br></p><p><a href="/AboutUs/Reports/Pages/Refinance-Report-Second-Quarter-2014.aspx">Link to Refinance Report</a><br><a href="http&#58;//www.harp.gov/">Link to HARP.gov</a></p>8/20/2014 2:00:30 PM562http://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx
Refinance Report - Second Quarter 201412762<table width="100%" class="ms-rteTable-0" cellspacing="0" style="height&#58;393px;"><tbody><tr class="ms-rteTableEvenRow-0"><td class="ms-rteTableEvenCol-0" style="width&#58;10%;">​<a href="/AboutUs/Reports/ReportDocuments/REFI_2014-2Q_2014-08-14.pdf">​<img src="/AboutUs/Reports/PublishingImages/Report_Gen_Thumbs/Refinance-Report-Thumb.png" alt="" style="margin&#58;5px;width&#58;100px;height&#58;132px;" /></a></td><td class="ms-rteTableOddCol-0" style="width&#58;50%;"><h2>​​​Second Quarter 2014 Highlights</h2><ul><li style="margin&#58;0px;padding&#58;0px;"><p> Refinance volume increased slightly in June, but remained at levels more comparable to those observed in 2008 than in subsequent years. Mortgage rates have ranged between four to four and a half percent since June 2013. In June, the average interest rate on a 30 year fixed rate mortgage decreased fr​​om May to 4.16 percent.​<br></p></li><li style="margin&#58;0px;padding&#58;0px;"><p> In the second quarter of 2014, 54,041 refinances were completed through HARP, bringing the total refinances th​​​rough HARP from the inception of the program to 3,188,926.<br></p></li><li style="margin&#58;0px;padding&#58;0px;"><p> HARP volume​​​​ represented 16 percent of total refinance volume in the second quarter of 2014.</p></li><li style="margin&#58;0px;padding&#58;0px;"><p> In June 2014, 9​ percent of the loans refinanced through HARP had a loan-to-value ratio greater than 125 percent.</p></li><li style="margin&#58;0px;padding&#58;0px;"><p> Year to date through Ju​​ne 2014, borrowers with loan-to-value ratios greater than 105 percent accounted for 29 percent of the volume of HARP loans.</p></li><li style="margin&#58;0px;padding&#58;0px;"><p> Year to date through June 2014, 25 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.​​</p></li><li style="margin&#58;0px;padding&#58;0px;"><p> Year to date through June 2014, HARP refinances represented 37 percent of total refinances in Georgia and 35 perc​​ent in Florida, nearly double the ​18 percent of total refinances nationwide over the same period.</p></li><li style="margin&#58;0px;padding&#58;0px;"><p> Borro​​wers who refina​nced through HARP had a lower delinquency rate compared to borrowers eligible for HARP who did not refinance through the program.​​</p></li></ul></td></tr></tbody></table><p> <a href="/Media/PublicAffairs/Pages/Refinances-Tick-Up-in-June.aspx">Report News Release&#58;<em> &quot;Refinances Tick Up in June&quot;</em></a><a href="/Media/PublicAffairs/Pages/Refinances-Tick-Up-in-June.aspx" style="line-height&#58;22px;font-family&#58;'source sans pro', sans-serif;font-size&#58;14px;">​</a><span style="line-height&#58;22px;">​ (8/20/2014)</span></p>8/28/2014 7:04:27 PM441http://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Quarterly Performance Report of the Housing GSEs - First Quarter 201412757<h3></h3><table cellspacing="0" width="100%" class="ms-rteTable-0"><tbody><tr class="ms-rteTableEvenRow-0"><td class="ms-rteTableEvenCol-0" style="width&#58;10%;">​<a href="/AboutUs/Reports/ReportDocuments/1Q14%20QPR%20(Final).pdf"><img src="/AboutUs/Reports/PublishingImages/Housing-GSE-Q1-2014-thumb.png" alt="" style="margin&#58;5px;width&#58;100px;height&#58;132px;" /></a>​</td><td class="ms-rteTableOddCol-0" style="width&#58;50%;"><h3>​​​The Enterprises</h3><p style="font-style&#58;normal;font-variant&#58;normal;"> <em>(Freddie Mac and Fannie Mae)</em></p><ul style="font-family&#58;'source sans pro', sans-serif;font-size&#58;14px;font-style&#58;normal;font-variant&#58;normal;line-height&#58;14px;"><li> <span style="line-height&#58;22px;">Combined first quarter net income of $9.3 billion compared to $15.1 billion in the fourth quarter of 2013</span><br></li><li> <span style="line-height&#58;22px;">Enterprise MBS issuance share decreased to 70 percent compared to 74 percent in the fourth quarter of 2013</span><br></li><li> <span style="line-height&#58;22px;">Combined proceeds from private-label mortgage-related (PLS) securities settlements totaled $8.6 billion in the first quarter</span><br></li><li> <span style="line-height&#58;22px;">Loan loss reserves decreased $2.6 billion during the quarter</span><br></li></ul><h3 style="font-style&#58;normal;font-variant&#58;normal;">The Federal Home Loan Bank Syste​m</h3><ul style="font-family&#58;'source sans pro', sans-serif;font-size&#58;14px;font-style&#58;normal;font-variant&#58;normal;line-height&#58;14px;"><li> <span style="line-height&#58;22px;">​Aggregate net income of $567 million in the fir</span><span style="line-height&#58;22px;">st quarter of 2014, compared to $691 million in the fourth quarter of 2013</span><br></li><li> <span style="line-height&#58;22px;">Aggregate advances decreased during the quarter by 3 percent</span><br></li><li> <span style="line-height&#58;22px;">Advances as a percentage of total assets decreased slightly to 59 percent</span><br></li><li> <span style="line-height&#58;22px;">Retained earnings increased to $12.4 billion</span><br></li></ul></td></tr></tbody></table><h3></h3>8/5/2014 6:26:22 PM1192http://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
FHFA Index Shows Mortgage Interest Rates Continue to Decrease in June10887<p> <strong>Washington, DC –</strong> Nationally, interest rates on mortgages decreased from May to June, according to an index of new mortgage contracts. </p><p>According to the Federal Housing Finance Agency (FHFA), the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders index was 4.08 percent for loans closed in late June. &#160;The index is calculated using FHFA's Monthly Interest Rate Survey.&#160; The contract rate on the composite of all mortgage loans was 4.09 percent in June, a decrease from 4.13 percent in May.</p><p>Interest rates are typically locked in 30-45 days before a loan is closed.&#160; Consequently, the June index reflects market rates from mid-to-late May. The effective interest rate was 4.24 percent in June, down 4 basis points from 4.28 percent in May. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.</p><p>FHFA's interest rate survey shows the average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 4.34 in June, a decrease of 3 basis points. The average loan amount for all loans was $292,200 in June, up $9,600 from $282,600 in May.</p><p>FHFA will release June index values Thursday, August 28th, 2014.</p><p>For more information, call David Roderer at (202) 649-3206. You can hear recorded index information by calling (202) 649-3993. You can find the complete contract rate series at <a href="/DataTools/Downloads/Pages/Monthly-Interest-Rate-Data.aspx">http&#58;//www.fhfa.gov/DataTools/Downloads/Pages/Monthly-Interest-Rate-Data.aspx</a>.</p><p style="text-align&#58;center;">&#160;​<img src="/Media/PublicAffairs/PublishingImages/Pages/Forms/EditForm/MIRS_June_2014_Chart.png" alt="MIRS_June_2014_Chart.png" style="margin&#58;5px;" /><br>Source&#58; FHFA</p><p>Technical note&#58; The index is based on a small monthly survey of mortgage lenders, which may not be representative. The sample is not a statistical sample but is rather a convenience sample. Survey respondents were asked to report terms and conditions of all conventional, single-family, fully amortized purchase-money loans closed during the last five working days of the month. The index does not include mortgages either guaranteed or insured by either the Federal Housing Administration or the U.S. Department of Veterans Affairs. The index also excluded refinancing loans and balloon loans. &#160;June 2014 values are based on 6,842 reported loans from 25 lenders, which include savings associations, mortgage companies, commercial banks, and mutual savings banks. The effective interest rate includes the amortization of initial fees and charges over a 10-year period (the historical assumption of the average life of a mortgage loan).</p> 7/31/2014 5:08:49 PM1118http://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx

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