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Refinance Report - May 201723376<h2>May 2017 Highlights</h2><p>Total refinance volume fell in May 2017 as mortgage rates in April remained over half a percent higher than the lows observed in 2016. Mortgage rates decreased in May&#58; the average interest rate on a 30-year fixed rate mortgage fell to 4.01 percent from 4.05 percent in April.</p><p>In May 2017&#58;</p><ul><li>Borrowers completed 3,291 refinances through HARP, bringing total refinances from the inception of the program to 3,467,881.</li><li>HARP volume represented 3 percent of total refinance volume.</li><li>Five percent of the loans refinanced through HARP had a loan-to-value ratio greater than 125 percent.</li></ul><p>Year to date through May 2017&#58;</p><ul><li>Borrowers with loan-to-value ratios greater than 105 percent accounted for 19 percent of the volume of HARP loans.</li><li>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.</li><li>HARP refinances represented 6 or more percent of total refinances in Nevada, and Florida, double the 3 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.</p><p>Ten states accounted for over 60 percent of the Nation's HARP eligible loans with a refinance incentive as of December 31, 2016.</p>7/18/2017 3:00:05 PM164https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention Report - April 201723318<h3 style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040;text-transform&#58;none;line-height&#58;1.4;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;lato, sans-serif;font-size&#58;20px;font-style&#58;normal;font-weight&#58;900;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;text-decoration-style&#58;initial;text-decoration-color&#58;initial;">April&#160;2017 Highlights</h3><p style="margin&#58;0px 0px 10px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040 !important;text-transform&#58;none;line-height&#58;22px;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;normal;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"><strong style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;inherit;font-family&#58;inherit;font-size&#58;inherit;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;700 !important;vertical-align&#58;baseline;font-stretch&#58;inherit;">The Enterprises' Foreclosure Prevention Actions&#58;</strong></p><ul style="margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#444444;text-transform&#58;none;line-height&#58;inherit;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;normal;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;">The Enterprises completed 16,521 foreclosure prevention actions in April, bringing the total to 3,898,985 since the start of the conservatorships in September 2008.&#160; Over half of these actions have been permanent loan modifications.</li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;">There were 11,328 permanent loan modifications in April, bringing the total to 2,065,576 since the conservatorships began in September 2008.</li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;">The share of modifications with principal forbearance accounted for 32 percent of all permanent modifications in April. Modifications with extend-term only increased to 38&#160;percent during the month due to continuing improvement in house prices.</li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;">There were 1,650 short sales and deeds-in-lieu completed in April, down 10 percent compared with March.</li></ul><p style="margin&#58;0px 0px 10px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040 !important;text-transform&#58;none;line-height&#58;22px;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;normal;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"><strong style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;inherit;font-family&#58;inherit;font-size&#58;inherit;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;700 !important;vertical-align&#58;baseline;font-stretch&#58;inherit;">The Enterprises' Mortgage Performance&#58;</strong></p><ul style="margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#444444;text-transform&#58;none;line-height&#58;inherit;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;normal;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;">The serious delinquency rate fell further from 1.04 percent at the end of March to 1.01 percent at the end of April.</li></ul><p style="margin&#58;0px 0px 10px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040 !important;text-transform&#58;none;line-height&#58;22px;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;normal;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"><strong style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;inherit;font-family&#58;inherit;font-size&#58;inherit;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;700 !important;vertical-align&#58;baseline;font-stretch&#58;inherit;">The Enterprises' Foreclosures&#58;</strong></p><ul style="margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#444444;text-transform&#58;none;line-height&#58;inherit;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;normal;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;">Third-party and foreclosure sales decreased 16 percent from 6,581 in March to 5,523 in April.</li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;">Foreclosure starts increased 10 percent from 15,478 in March to 17,056 in April.</li></ul>7/12/2017 3:00:24 PM180https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index - April 201723098<p style="font-style&#58;normal;">U.S. house prices rose in April&#160;according to the&#160;FHFA seasonally adjusted monthly House Price Index (HPI). &#160;From April&#160;2016 to April&#160;2017, house prices were up&#160;<span style="font-size&#58;inherit;font-family&#58;inherit;font-weight&#58;700 !important;">6.8&#160;percent</span>.&#160;</p><p style="font-style&#58;normal;">For the nine census divisions, seasonally adjusted monthly price changes from March&#160;2017 to April&#160;2017 ranged from -0.1 percent in the East South Central&#160;division to +1.6&#160;percent in the West South Central division.&#160; The 12-month changes were all positive, ranging from +4.7&#160;percent in the West North Central&#160;division to +8.9 percent in the Mountain division.</p><p style="font-style&#58;normal;">Monthly index values and appreciation rate estimates for recent periods are provided in the table and graphs in the attachment.<br></p><p><a href="/Media/PublicAffairs/Pages/FHFA-House-Price-Index-Up-0pt7-Percent-in-April-2017.aspx">Related News Release</a><br></p>6/22/2017 1:00:37 PM1967https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention Report - First Quarter 201723101<h2>First Quarter 2017 Highlights<br></h2><div><br></div><p><strong>The Enterprises' Foreclosure Prevention Actions&#58;</strong><br></p><ul><li>The Enterprises completed 49,104 foreclosure prevention&#160;actions in the first quarter of 2017, bringing the total to&#160;3,882,464 since the start of conservatorships in September 2008.&#160;Of these actions, 3,211,462 have helped troubled homeowners stay in their homes including 2,054,248 permanent loan&#160;modifications.<br></li><li>The share of modifications with principal forbearance increased&#160;to 26 percent. Modifications with extend-term only accounted for&#160;40 percent of all loan modifications in the first quarter due to&#160;improved house prices and expiration of the Home Affordable Modification Program (HAMP).<br></li><li>As of March 31, 2017, approximately 20 percent of loans&#160;modified in the first quarter of 2016 had missed two or more payments, one year after modification.<br></li><li>There were 4,936 completed short sales and deeds-in-lieu&#160;during the quarter, bringing the total to 671,002 since the conservatorships began in September in 2008.<br></li></ul><p><strong>The Enterprises' Mortgage Performance&#58;</strong></p><ul><li>The number of 60+ days delinquent loans declined 10 percent&#160;to 377,622 at the end of the first quarter, the lowest level since 2008.<br></li><li>The Enterprises' serious delinquency rate fell to 1.0 percent at&#160;the end of the first quarter, the lowest level since April of 2008.&#160;This compared with 4.0 percent for Federal Housing&#160;Administration (FHA) loans, 2.1 percent for Veterans Affairs (VA)&#160;loans, and 2.8 percent for all loans (industry average).<br></li></ul><p><strong>The Enterprises' Foreclosures&#58;</strong><br></p><ul><li>Foreclosure starts fell 4 percent to 50,529 while third-party and&#160;foreclosure sales increased 5 percent to 19,195 in the first quarter.<br></li></ul><p><a href="/Media/PublicAffairs/Pages/FHFA-First-Quarter-Foreclosure-Prevention-Report-Foreclosure-Preventions-near-3-9-Million.aspx">Related News Release</a><br></p><p>For an interactive online map that provides state data, click on the following link&#58; <a href="/DataTools/Tools/Pages/Borrower-Assistance-Map.aspx"><em> Fannie Mae and Freddie Mac State&#160;Borrower Assistance Map</em></a><em>&#160;<span aria-hidden="true"></span></em><br></p>6/22/2017 3:00:39 PM248https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Refinance Report - April 201722989<h2>April 2017 Highlights</h2><p> Total refinance volume fell in April 2017 as mortgage rates in March remained over half a percent higher than the lows observed in 2016. Mortgage rates decreased in April&#58; the average interest rate on a 30‐year fixed rate mortgage fell to 4.05 percent from 4.20 percent in March.</p><p> In April 2017&#58; </p><ul><li> Borrowers completed 3,493 refinances through HARP, bringing total refinances from the inception of the program to 3,464,589. </li><li>HARP volume represented 3 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. </li></ul><p> Year to date through April 2017&#58; </p><ul><li>Borrowers with loan‐to‐value ratios greater than 105 percent accounted for 19 percent of the volume of HARP loans. </li><li>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. </li><li> HARP refinances represented 6 or more percent of total refinances in Nevada, and Florida, double the 3 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. </p><p>Ten states accounted for over 60 percent of the Nation's HARP eligible loans with a refinance incentive as of December 31, 2016. </p>6/15/2017 5:00:49 PM495https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index Report - 1Q 201711667<p>​U.S. house prices rose <strong>1.4 percent</strong> in the first quarter of 2017 according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI).&#160; &#160;House prices rose <strong>6.0 percent</strong> from the first quarter of 2016 to the first quarter of 2017.&#160; FHFA's seasonally adjusted monthly index for March was up <strong>0.6 percent </strong>from February.&#160; </p><p>The HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac. &#160;FHFA has produced a <a href="https&#58;//youtu.be/H0asD2nh76c">video of highlights</a> for this quarter.</p> <strong>Significant Findings</strong> <ul><li><p>Home prices rose in 48 states and the District of Columbia between the first quarter of 2016 and the first quarter of 2017.&#160; The top five areas in annual appreciation were&#58; &#160;1) District of Columbia 13.9 percent; 2) Colorado 10.7 percent; 3) Idaho 10.3 percent; 4) Washington 10.2 percent; and 5) New Hampshire 9.5 percent.</p></li><li><p>Among the 100 largest metropolitan areas in the U.S., annual price increases were greatest in the Grand Rapids-Wyoming, MI, where prices increased by 13.7 percent.&#160; Prices were weakest in San Francisco-Redwood City-South San Francisco, CA (MSAD), where they fell 2.5 percent.</p></li><li><p>Of the nine census divisions, the Pacific division experienced the strongest increase in the first quarter, posting a 2.0 percent quarterly increase and a 7.7 percent increase since the first quarter of last year. &#160;House price appreciation was weakest in the Middle Atlantic division, where prices rose 1.0 percent from the last quarter.</p></li></ul><p> <a href="/Media/PublicAffairs/Pages/US-House-Prices-Rise-1-4-Percent-in-First-Quarter.aspx">Related News Release</a></p>5/24/2017 1:00:43 PM3874https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Refinance Report - First Quarter 201718705<h2>First Quarter 2017&#160;Highlights&#160;</h2><font color="#000000" face="Times New Roman" size="3"></font><p>Total refinance volume fell in March 2017&#160;as mortgage rates in February remained over half a percent higher than the lows observed in 2016. Mortgage rates increased in March&#58;&#160;the average interest rate on a 30‐year fixed rate mortgage rose to 4.20&#160;percent from 4.17&#160;percent in February.</p><p>In the first quarter of 2017&#58;</p><ul><li>Borrowers completed&#160;13,425 refinances through HARP, bringing total refinances from the inception of the program to 3,461,096.</li><li>HARP volume represented 3&#160;percent of total refinance volume.</li><li>Borrowers with loan‐to‐value ratios greater than 105 percent accounted for 19&#160;percent of the volume of HARP loans.</li><li>Twenty-four&#160;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.</li><li>HARP refinances represented&#160;6 or more&#160;percent of total refinances in Nevada and Florida, double the 3&#160;percent of total refinances nationwide over the same period.</li></ul><font color="#000000" face="Times New Roman" size="3"></font><p>In March, 7&#160;percent of the loans refinanced through HARP had a loan‐to‐value ratio greater than 125 percent.</p><font color="#000000" face="Times New Roman" size="3"></font><p>Borrowers who refinanced through HARP had a lower delinquency rate compared to borrowers eligible for HARP who did not refinance through the program.</p><font color="#000000" face="Times New Roman" size="3"></font><p>Ten states accounted for over 60&#160;percent of the nation's HARP eligible loans with a refinance incentive as of December 31, 2016.</p><p><a href="/Media/PublicAffairs/Pages/Refinance-Volume-Continued-to-Slow-in-First-Quarter.aspx">Related News Release</a></p>5/16/2017 5:01:06 PM424https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention Report - February 201718408<h3>February 2017 Highlights</h3><p><strong>The Enterprises' Foreclosure Prevention Actions&#58;</strong></p><ul><li>The Enterprises completed 14,549 foreclosure prevention actions in February, bringing the total to 3,862,467 since the start of the conservatorships in September 2008.&#160; Over half of these actions have been permanent loan modifications.</li><li>There were 9,076 permanent loan modifications in February, bringing the total to 2,040,802 since the conservatorships began in September 2008.</li><li>The share of modifications with principal forbearance accounted for 19 percent of all permanent modifications in February. Modifications with extend-term only remained at 44 percent during the month due to continuing improvement in house prices.</li><li>There were 1,494 short sales and deeds-in-lieu completed in February, down 7 percent compared with January.</li></ul><p><strong>The Enterprises' Mortgage Performance&#58;</strong></p><ul><li>The serious delinquency rate fell slightly from 1.12 percent at the end of January to 1.11 percent at the end of February.</li></ul><p><strong>The Enterprises' Foreclosures&#58;</strong></p><ul><li>Third-party and foreclosure sales decreased 12 percent from 6,705 in January to 5,909 in February. </li><li>Foreclosure starts increased 11 percent from 16,604 in January to 18,447 in February.</li></ul>5/11/2017 6:00:23 PM410https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index - February 201711704<p>U.S. house prices rose in February according to the&#160;FHFA seasonally adjusted monthly House Price Index (HPI). &#160;From February 2016 to February 2017, house prices were up <strong>6.4 percent</strong>.&#160;</p><p>For the nine census divisions, seasonally adjusted monthly price changes from January 2017 to February 2017 ranged from -0.1 percent in the South Atlantic division to +1.8 percent in the East South Central division.&#160; The 12-month changes were all positive, ranging from +4.6 percent in the Middle Atlantic division to +9.5 percent in the Mountain 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-0pt8-Percent-in-February-2017.aspx">Related News Release</a></p>4/25/2017 1:01:00 PM2641https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Refinance Report - February 201711574<h3>​February 2017 Highlights</h3><p>Total refinance volume fell in February 2017 as mortgage rates in January remained over half a percent higher than the levels observed in November 2016. Mortgage rates increased in February&#58; the average interest rate on a 30‐year fixed rate mortgage rose to 4.17 percent from 4.15 percent in January.</p><p>In February 2017&#58;</p><ul><li> Borrowers completed 4,198 refinances through HARP, bringing total refinances from the inception of the program to 3,456,422. </li><li>HARP volume represented 3 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.</li></ul><p>Year to date through February 2017&#58;</p><ul><li>Borrowers with loan‐to‐value ratios greater than 105 percent&#160; accounted for 18 percent of the volume of HARP loans.</li><li>Twenty three 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.</li><li>HARP refinances represented 6 or more percent of total refinances in Nevada and Florida, double the 3 percent of total&#160; refinances nationwide over the same period.</li></ul><p> Borrowers who refinanced through HARP had a lower delinquency&#160; rate compared to borrowers eligible for HARP who did not refinance&#160; through the program.</p><p>Ten states accounted for over 60 percent of the nation's HARP eligible loans with a refinance incentive as of September 30, 2016. </p>4/13/2017 3:00:12 PM668https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx

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