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 2016 examinations of Fannie Mac, Freddie Mac and the Home Loan Bank System.
Submit comments and provide input on FHFA Rules Open for Comment by clicking on Rulemaking and Federal Register.
Goal: Help restore confidence, enhance capacity to fulfill mission, and mitigate systemic risk that contributed directly to instability in financial markets.
MAINTAIN foreclosure prevention activities and credit availability, REDUCE taxpayer risk, and BUILD a new single-family securitization infrastructure. Read more in the 2016 Scorecard and Conservatorships Strategic Plan.
Plans and Reports
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.
HARP - the Home Affordable Refinance Program was created by FHFA specifically to help homeowners current on their mortgage payments, but underwater on their mortgages.
FHFA economists and policy experts provide reliable research and policy analysis about critical topics impacting the nation’s housing finance sector.
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Key Topics pages provide information about FHFA's work on a range of issues facing the nation and highlight the most relevant related news releases, reports, statements and web pages on the respective topics.
The Honorable Melvin L. Watt of Charlotte, NC sworn in on January 6, 2014 to a 5-year term as the first Senate-confirmed Director of FHFA.
Read more about Director Watt
Washington, D.C. – Nationally, interest rates on mortgages showed little change from June to July, according to an index of new mortgage contracts.
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. The index is calculated using FHFA's Monthly Interest Rate Survey. For June and July, the contract rate on the composite of all mortgage loans was 4.09 percent.
Interest rates are typically locked in 30-45 days before a loan is closed. 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.
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.
FHFA will release August index values Tuesday, September 30, 2014.
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 http://www.fhfa.gov/DataTools/Downloads/Pages/Monthly-Interest-Rate-Data.aspx .
Technical note: 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. 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).
The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. These government-sponsored enterprises provide more than $5.6 trillion in funding for the U.S. mortgage markets and financial institutions.
Corinne Russell (202) 649-3032 / Stefanie Johnson (202) 649-3030
© 2017 Federal Housing Finance Agency