This annual report describes FHFA's accomplishments, as well as challenges, the agency faced in meeting the strategic goals and objectives during the past fiscal year.
Read about the agency’s 2022 examinations of Fannie Mac, Freddie Mac and the Home Loan Bank System.
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As conservator, FHFA is focused on ensuring that each Enterprise builds capital and improves its safety and soundness.
1.
Operate the business in a safe and sound manner.
2.
Promote sustainable and equitable access to affordable housing.
2023 Scorecard
FHFA experts provide reliable data, including all states, about activity in the U.S. mortgage market through its House Price Index, Refinance Report, Foreclosure Prevention Report, and Performance Report.
Source: FHFA
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Total refinance volume decreased in May 2018 as mortgage rates rose in April, continuing a trend first observed in October 2017. Mortgage rates increased in May: the average interest rate on a 30-year fixed rate mortgage rose to 4.59 percent from 4.47 percent in April, reaching levels last observed in 2011. In May 2018:Borrowers completed 1,077 refinances through HARP, bringing total refinances from the inception of the program to 3,490,261.HARP volume represented 1 percent of total refinance volume.Six percent of the loans refinanced through HARP had a loan-to-value ratio greater than 125 percent.Year to date through May 2018: Borrowers with loan-to-value ratios greater than 105 percent accounted for 16 percent of the volume of HARP loans.Thirty-one 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.HARP refinances represented 3 percent of total refinances in Illinois compared to 1 percent of total refinances nationwide over the same period.Borrowers who refinanced through HARP had a lower delinquency rate compared to borrowers eligible for HARP who did not refinance through the program.
Total refinance volume decreased in May 2018 as mortgage rates rose in April, continuing a trend first observed in October 2017. Mortgage rates increased in May: the average interest rate on a 30-year fixed rate mortgage rose to 4.59 percent from 4.47 percent in April, reaching levels last observed in 2011.
In May 2018:
Borrowers completed 1,077 refinances through HARP, bringing total refinances from the inception of the program to 3,490,261.
HARP volume represented 1 percent of total refinance volume.
Six percent of the loans refinanced through HARP had a loan-to-value ratio greater than 125 percent.
Year to date through May 2018:
Borrowers with loan-to-value ratios greater than 105 percent accounted for 16 percent of the volume of HARP loans.
Thirty-one 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.
HARP refinances represented 3 percent of total refinances in Illinois compared to 1 percent of total refinances nationwide over the same period.
Borrowers who refinanced through HARP had a lower delinquency rate compared to borrowers eligible for HARP who did not refinance through the program.
Nine states and one U.S. territory accounted for over 70 percent of the nation's HARP eligible loans with a refinance incentive as of December 31, 2017.
