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Implement critical reforms that will produce a stronger and more resilient housing finance system.
FOSTER competitive, liquid, efficient, and resilient (CLEAR) national housing finance markets that support sustainable homeownership and affordable rental housing; OPERATE in a safe and sound manner appropriate for entities in conservatorship; and PREPARE for eventual exits from the conservatorships.
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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.
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Washington, D.C. – House prices rose nationwide in January, up 1.6 percent from the previous month, according to the latest Federal Housing Finance Agency House Price Index (FHFA HPI®). House prices rose 18.2 percent from January 2021 to January 2022. The previously reported 1.2 percent price change for December 2021 was revised upward to a 1.3 percent price change.
For the nine census divisions, seasonally adjusted monthly house price changes from December
2021 to January 2022 ranged from +0.1 percent in the New England division to +2.2 percent in the South Atlantic division. The 12-month changes ranged from +13.3 percent in the Middle Atlantic division to +23.1 percent in the Mountain division.
“House price trends notched up slightly in January,” said Will Doerner, Ph.D., Supervisory Economist in FHFA’s Division of Research and Statistics. “Rising mortgage rates in January
certainly reflect a major change from the past several years, but lending costs remain relatively low.
The mortgage rate shift has not dampened upward price pressure from intense borrower demand
and limited supply.”
The FHFA HPI is the nation’s only collection of public, freely available house price indexes that
measure changes in single-family home values based on data from all 50 states and over 400
American cities that extend back to the mid-1970s. The FHFA HPI incorporates tens of millions of home sales and offers insights about house price fluctuations at the national, census division, state,
metro area, county, ZIP code, and census tract levels. FHFA uses a fully transparent methodology
based upon a weighted, repeat-sales statistical technique to analyze house price transaction data.
FHFA releases HPI data and reports on a quarterly and monthly basis. The flagship FHFA HPI
uses nominal, seasonally adjusted, purchase-only data from Fannie Mae and Freddie Mac.
Additional indexes use other data including refinances, FHA mortgages, and real property records.
All the indexes, including their historic values, and information about future HPI release dates are available on FHFA’s website: https://www.fhfa.gov/HPI.
FHFA will release its next HPI report on April 26, 2022, with monthly data through February 2022.
Adam Russell Adam.Russell@FHFA.gov
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