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Refinance Report - Third Quarter 201724014<h2>Third&#160;Quarter 2017 Highlights<br><br></h2><div style="margin&#58;0px;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;400;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;"><ul style="font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;vertical-align&#58;baseline;font-stretch&#58;inherit;"><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">Total refinance volume increased in September&#160;2017 as mortgage rates in August remained below the levels observed at the beginning of the year.&#160;&#160;Mortgage rates decreased in September&#58;&#160;the average interest rate on a 30-year fixed rate mortgage fell to 3.81 percent from 3.88&#160;percent in August.<br></li></ul></div><blockquote style="margin&#58;0px 0px 0px 40px;padding&#58;0px;border&#58;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;400;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;"><div style="font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;vertical-align&#58;baseline;font-stretch&#58;inherit;"><p style="margin&#58;0px 0px 10px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;22px;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;color&#58;#404040 !important;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">In the third quarter of 2017&#58;</p></div></blockquote><div style="margin&#58;0px;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;400;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;"><ul style="font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;vertical-align&#58;baseline;font-stretch&#58;inherit;"><ul style="font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;vertical-align&#58;baseline;font-stretch&#58;inherit;"><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">Borrowers completed 6,913&#160;refinances through HARP, bringing total refinances from the inception of the program to 3,477,717.</li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">HARP volume represented 2&#160;percent of total refinance volume.</li></ul></ul></div><div style="margin&#58;0px;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;400;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;">&#160;&#160;<span>&#160;</span><br></div><blockquote style="margin&#58;0px 0px 0px 40px;padding&#58;0px;border&#58;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;400;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;"><div style="font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;vertical-align&#58;baseline;font-stretch&#58;inherit;">Year to date through September 2017&#58;</div></blockquote><div style="margin&#58;0px;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;400;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;"> <br> </div><div style="margin&#58;0px;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;400;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;"><ul style="font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;vertical-align&#58;baseline;font-stretch&#58;inherit;"><ul style="font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;vertical-align&#58;baseline;font-stretch&#58;inherit;"><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">Borrowers with loan-to-value ratios greater than 105 percent accounted for 19 percent of the volume of HARP loans.</li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">Twenty-six 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 style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">HARP refinances represented 5&#160;or more percent of total refinances in Nevada, Georgia, Illinois,&#160;and Florida -- more than&#160;double the 2 percent of total refinances nationwide over the same period.<br></li></ul></ul><ul style="font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;vertical-align&#58;baseline;font-stretch&#58;inherit;"><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">In September&#160;2017, 6 percent of the loans refinanced through HARP had a loan-to-value ratio greater than 125 percent.</li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">Borrowers who refinanced through HARP had a lower delinquency rate compared to borrowers eligible for HARP who did not refinance through the program.</li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">Nine states and one U.S. territory accounted for over 60 percent of the nation's HARP eligible loans with a refinance incentive as of June&#160;30, 2017.</li></ul><div style="font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;vertical-align&#58;baseline;font-stretch&#58;inherit;"> <br> <a href="/Media/PublicAffairs/Pages/Total-Refinance-Volume-Ticks-Up-Slightly-in-Third-Quarter.aspx">Related News Release</a></div></div>11/16/2017 4:01:08 PM110https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index Report - August 201711901<p>​The FHFA House Price Index (HPI) reported<strong> </strong>a 0.7 percent increase<strong> </strong>in U.S. house prices in August from the previous month.&#160; From August 2016 to August 2017, house prices were up 6.6 percent.&#160; For the nine census divisions, seasonally adjusted monthly price changes from July 2017 to August 2017 ranged from -0.1 percent in the New England division to +1.4 percent in the Pacific division.&#160; The 12-month changes were all positive ranging from +5.0 percent in the Middle Atlantic division to +9.3 in the Pacific 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-0pt7-Percent-in-August-2017.aspx">Related News Release </a></p>10/25/2017 1:00:53 PM1816https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Refinance Report - August 201711803<h2 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;22px;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;">August 2017&#160;Highlights&#160;</h2><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;"><span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;font-size&#58;14px !important;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400 !important;vertical-align&#58;baseline;font-stretch&#58;inherit;">Total refinance&#160;volume increased in August 2017&#160;as mortgage rates in July remained below the levels observed at the beginning of the year.&#160; Mortgage rates decreased in August&#58; the average interest rate on a 30-year fixed rate mortgage fell to 3.88 percent from 3.97 percent in July.</span></p><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;"><span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;font-size&#58;14px !important;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400 !important;vertical-align&#58;baseline;font-stretch&#58;inherit;">In August 2017&#58;</span></p><ul style="margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;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;"><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;"><font color="#444444"><span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;font-size&#58;14px !important;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400 !important;vertical-align&#58;baseline;font-stretch&#58;inherit;">Borrowers completed 2,379 refinances through HARP, bringing total refinances from the inception of the program to 3,475,488.</span><br></font></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;"><font color="#444444"><span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;font-size&#58;14px !important;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400 !important;vertical-align&#58;baseline;font-stretch&#58;inherit;">HARP volume represented 2&#160;percent of total refinance volume.</span><br></font></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;"><font color="#444444"><span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;font-size&#58;14px !important;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400 !important;vertical-align&#58;baseline;font-stretch&#58;inherit;">Seven percent of the loans refinanced through HARP had a&#160;loan‐to‐value ratio&#160;greater than 125 percent.</span><br></font></li></ul><span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#444444;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;">Year to date through August 2017&#58;&#160;</span><br style="color&#58;#444444;text-transform&#58;none;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;white-space&#58;normal;orphans&#58;2;widows&#58;2;background-color&#58;#ffffff;"><span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#444444;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;"><ul style="font&#58;inherit;margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;vertical-align&#58;baseline;font-size-adjust&#58;inherit;font-stretch&#58;inherit;"><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;"><span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;font-size&#58;14px !important;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400 !important;vertical-align&#58;baseline;font-stretch&#58;inherit;">Borrowers with loan‐to‐value ratios greater than 105 percent accounted for 19 percent of the volume of HARP loans.</span><br></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;"><span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;font-size&#58;14px !important;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400 !important;vertical-align&#58;baseline;font-stretch&#58;inherit;">Twenty-six percent of HARP refinances for underwater borrowers were for shorter-term 15- and&#160;20‐year mortgages, which build equity faster than traditional 30‐y</span><span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;font-size&#58;14px !important;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400 !important;vertical-align&#58;baseline;font-stretch&#58;inherit;">ear mortgages.</span><br></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;"><span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;font-size&#58;14px !important;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400 !important;vertical-align&#58;baseline;font-stretch&#58;inherit;">HARP&#160;refinances represented&#160;6 or more percent of total refinances in Nevada, double the 3&#160;percent of total refinances nationwide over the same period.</span><br></li></ul></span><span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#444444;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;">Borrowers who refinanced through HARP had a lower delinquency rate compared to borrowers eligible for HARP who did not refinance through the program.</span><br style="color&#58;#444444;text-transform&#58;none;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;white-space&#58;normal;orphans&#58;2;widows&#58;2;background-color&#58;#ffffff;"><span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#444444;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;">Nine states and one U.S. territory accounted for over 60 percent of the nation's HARP eligible loans with a refinance incentive as of March 31, 2017.</span><font color="#000000" face="Times New Roman" size="3"> </font>10/17/2017 2:00:43 PM418https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index Report - July 201723594<p>The FHFA House Price Index (HPI) reported a&#160;0.2 percent increase in U.S. house prices in July from&#160;the previous month.&#160; From July 2016 to July 2017, house prices were up 6.3 percent.&#160; For the nine census divisions, seasonally adjusted monthly price changes from June 2017 to July 2017 ranged from -0.5 percent in the West North Central and Pacific divisions to +0.6 percent in the East North Central division.&#160; The 12-month changes were all positive, ranging from +4.2 percent in the West North Central division to +8.2 percent in the Mountain and Pacific divisions.</p><p>Monthly index values and appreciation rate estimates for recent periods are provided in the table and graphs in the attachment.&#160;</p><p><a href="/Media/PublicAffairs/Pages/FHFA-House-Price-Index-Up-0-2-Percent-in-July.aspx">Related News Release</a></p>9/21/2017 1:00:07 PM2308https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Refinance Report - July 201717950<h2>July 2017 Highlights</h2><p>Total refinance volume decreased in July 2017 as mortgage rates in June remained above the lows observed in 2016. Mortgage rates increased in July&#58; the average interest rate on a 30-year fixed rate mortgage rose to 3.97 percent from 3.90 percent in June.</p><p>In July 2017&#58;&#160;<br></p><ul><li>Borrowers completed 2,305 refinances through HARP, bringing total refinances from the inception of the program to&#160;3,473,109.</li><li>HARP volume represented 2 percent of total refinance volume.<br></li><li>Seven percent of the loans refinanced through HARP had a loan-to-value ratio greater than 125 percent.<br></li></ul><p>Year to date through July 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.<br></li><li>Twenty-six 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.<br></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.<br></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>Nine states and one U.S. territory accounted for over 60 percent of the nation's HARP eligible loans with a refinance incentive as of March 31, 2017.<br></p>10/16/2017 9:25:46 PM444https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index Report - 2Q 201723730<p>U.S. house prices rose 1.6 percent in the second quarter of 2017 according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI).&#160; &#160;House prices rose 6.6 percent from the second quarter of 2016 to the second quarter of 2017.&#160; FHFA's seasonally adjusted monthly index for June was up 0.1 percent from May.&#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 title="Link goes to an external web page." href="https&#58;//youtu.be/KsZDiBku9dY" target="_blank">video of highlights</a> for this quarter.&#160; </p><p style="text-decoration&#58;underline;"><strong>Significant Findings</strong></p><ul><li>Home prices rose in 48 states and the District of Columbia between the second quarter of 2016 and the second quarter of 2017.&#160; The top five states in annual appreciation were&#58; &#160;1) <strong>Washington </strong>12.4 percent; 2) <strong>Colorado </strong>10.4 percent; 3) <strong>Idaho </strong>10.3 percent; 4) <strong>Florida </strong>9.4 percent; and 5) <strong>Utah </strong>9.2 percent.</li><li>Among the 100 largest metropolitan areas in the U.S., annual price increases were greatest in the <strong>Seattle-Bellevue-Everett, WA (MSAD), </strong>where prices increased by 15.7 percent.&#160; Prices were weakest in <strong>New Haven-Milford, CT</strong>, where they rose by 0.1 percent.</li><li>Of the nine census divisions, the <strong>Pacific </strong>division experienced the strongest increase in the second quarter, posting a 2.6 percent quarterly increase and a 8.9 percent increase since the second quarter of last year. &#160;House price appreciation was weakest in the <strong>Middle Atlantic </strong>division, where prices rose 0.8 percent from the last quarter.&#160;</li></ul><p><a href="/Media/PublicAffairs/Pages/U-S-House-Prices-Rise-1pt6-Percent-in-Second-Quarter-2017.aspx">Related News Release</a></p>8/22/2017 1:00:56 PM5435https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Refinance Report - Second Quarter 201723709<h2>Second Quarter 2017 Highlights</h2><div><ul><li>Total refinance volume increased in June 2017 as mortgage rates fell in May. Mortgage rates continued to decrease in June&#58; the average interest rate on a 30-year fixed rate mortgage fell to 3.90 percent from 4.01 percent in May.<br></li></ul></div><blockquote style="margin&#58;0px 0px 0px 40px;padding&#58;0px;border&#58;currentcolor;"><div><p>In the second quarter of 2017&#58;</p></div></blockquote><div><ul><ul><li>Borrowers completed 9,707 refinances through HARP, bringing total refinances from the inception of the program to 3,470,804.</li><li>HARP volume represented 3 percent of total refinance volume.</li></ul></ul></div><div> &#160;&#160; <br></div><blockquote style="margin&#58;0px 0px 0px 40px;padding&#58;0px;border&#58;currentcolor;"><div>Year to date through June 2017&#58;</div></blockquote><div> <br> </div><div><ul><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.<br></li></ul></ul><ul><li>In June 2017, 6 percent of the loans refinanced through HARP had a loan-to-value ratio greater than 125 percent.</li><li>Borrowers who refinanced through HARP had a lower delinquency rate compared to borrowers eligible for HARP who did not refinance through the program.</li><li>Nine states and one U.S. territory accounted for over 60 percent of the nation's HARP eligible loans with a refinance incentive as of March 31, 2017.</li></ul><div><br> <a href="/Media/PublicAffairs/Pages/Refinance-Volume-Continued-to-Slow-in-Second-Quarter.aspx">Related News Release</a><br></div></div>10/16/2017 9:38:56 PM456https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
House Price Index - May 201723415<p style="font-style&#58;normal;">U.S. house prices rose in May according to the&#160;FHFA seasonally adjusted monthly House Price Index (HPI). &#160;From May 2016 to May 2017, house prices were up&#160;<span style="font-family&#58;inherit;font-size&#58;inherit;font-weight&#58;700 !important;">6.9&#160;percent</span>.&#160;</p><p style="font-style&#58;normal;">For the nine census divisions, seasonally adjusted monthly price changes from April 2017 to May 2017 ranged from -0.5 percent in the Middle Atlantic&#160;division to +1.0&#160;percent in the West South Central division.&#160; The 12-month changes were all positive, ranging from +4.0&#160;percent in the Middle Atlantic&#160;division to +8.7 percent in the Pacific 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><a href="/Media/PublicAffairs/Pages/FHFA-House-Price-Index-Up-0pt4-Percent-in-May-2017.aspx">Related News Release</a></p>7/25/2017 1:01:02 PM2452https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
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>10/16/2017 9:44:30 PM562https://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 PM2672https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx

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