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Helping Restore the American Dream for
ALL Americans

About FHFA

The Federal Housing Finance Agency (FHFA) is an independent agency established by the Housing and Economic Recovery Act of 2008 (HERA) and is responsible for the effective supervision, regulation, and housing mission oversight of the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), and the Federal Home Loan Bank System, which includes the 11 Federal Home Loan Banks (FHLBanks) and the Office of Finance (OF). The Agency's mission is to ensure that Fannie Mae and Freddie Mac (the Enterprises) and the FHLBanks (together, "the regulated entities") fulfill their mission by operating in a safe and sound manner to serve as a reliable source of liquidity and funding for housing finance and community investment. Since 2008, FHFA has also served as conservator of Fannie Mae and Freddie Mac.

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Latest News

  • News Release

    May 27, 2025
    U.S. house prices rose 4.0 percent between the first quarter of 2024 and the first quarter of 2025, according to the U.S. Federal Housing (FHFA) House Price Index (FHFA HPI®). House prices for the first quarter of 2025 were up 0.7 percent compared to the fourth quarter of 2024. FHFA’s seasonally adjusted monthly index for March was down 0.1 percent from February.
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  • News Release

    April 29, 2025
    U.S. house prices rose 0.1 percent in February, according to the U.S. Federal Housing (FHFA) seasonally adjusted monthly House Price Index (FHFA HPI®). House prices rose 3.9 percent from February 2024 to February 2025. The previously reported 0.2 percent price growth in January was revised upward to 0.3 percent.
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  • News Release

    April 08, 2025
    The U.S. Federal Housing Finance Agency (U.S. Federal Housing FHFA) and Fannie Mae issued the following statement: “In President Trump’s housing market, there is no room for fraud, mortgage fraud, or any other deceitful act that can jeopardize the safety and soundness of the housing industry,” said William J. Pulte, Chairman of the Board of Directors of Fannie Mae. “Since my swearing-in, we fired over 100 employees from Fannie Mae who we caught engaging in unethical conduct, including facilitating fraud, against our great company. Anyone who commits fraud against Fannie Mae does so against the American people.”
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Spotlight Topic

  • Suspension red stamp

    ​Suspended Counterparty

    FHFA established the Suspended Counterparty Program to help address the risk to Fannie Mae, Freddie Mac, and the Federal Home Loan Banks presented by individuals and entities with a history of fraud or other financial misconduct.

    View ​Suspended Counterparty Program List

  • FHFA House Price Index®

    The FHFA House Price Index® (FHFA HPI®) is a comprehensive​ collection of publicly available house price indexes that measure changes in single-family home values based on data from all 50 states and over 400 American cities.

    View the latest report

Housing Market Indicators

MIRS Transition Index

MIRS Transition Index Release DatesIndex Values
May 20256.64
April 20256.88
March 20256.92

MIRS transition index is intended to be used in lieu of the discontinued MIRS ARM Index for currently outstanding loans, and not as a reference rate on newly-originated adjustable-rate mortgages.  For further information, click here. 

House Prices

FHFA HPI-SourceQuarterly Change 2024Q4-2025Q1Four Quarter Change 2024Q1-2025Q1
"Purchase-Only" U.S. Index
(Seasonally Adjusted)		0.7%4.0%
"Expanded-Data" U.S. Index
(Seasonally Adjusted)		0.9%4.5%