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U.S. House Price Index - February 201824780<p>The FHFA House Price Index (HPI) reported a&#160;0.6 percent&#160;increase in U.S. house prices in&#160;February from the previous month.&#160; From&#160;February 2017 to&#160;February 2018, house prices were up&#160;7.2&#160;percent.&#160; For the nine census divisions, seasonally adjusted monthly price changes from&#160;January 2018 to&#160;February 2018 ranged from&#160;0.1&#160;percent in the&#160;West North Central division to +1.6&#160;percent in the&#160;East South Central division.&#160; The 12-month changes were all positive, ranging from +4.8&#160;percent in the&#160;Middle Atlantic&#160;division to +10.3&#160;percent in the&#160;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><a href="/Media/PublicAffairs/Pages/FHFA-House-Price-Index-Up-0pt6-Percent-in-February-2018.aspx"><p><font color="#0066cc">Related News Release</font></p></a>4/24/2018 1:00:15 PM323https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Refinance Report - February 201824575<h3>February 2018&#160;Highlights<br></h3><div> <br> </div><div><ul><li>Total refinance volume decreased in February 2018 as mortgage rates rose in January. Mortgage rates increased in February&#58; the average interest rate on a 20-year fixed rate mortgage rose to 4.33 percent from 4.03 percent in January, reaching levels last observed in 2014.&#160;<br><br>In February 2018&#58;<br></li></ul></div><ul><ul><li>Borrowers completed 1,292&#160;refinances through HARP, bringing total refinances from the inception of the program to 3,486,875.&#160;</li><li>HARP volume represented 1&#160;percent of total refinance volume.&#160;</li><li>Three&#160;percent of the loans refinanced through HARP had a loan-to-value ratio greater than 125 percent.&#160;</li></ul></ul><blockquote style="margin&#58;0px 0px 0px 40px;border&#58;none;padding&#58;0px;"><p>Year to date through February 2018&#58;&#160;</p></blockquote><ul><ul><li>Borrowers with loan‐to‐value ratios greater than 105 percent&#160; accounted for 15&#160;percent of the volume of HARP loans.&#160;</li><li>Thirty-one&#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.&#160;</li><li>HARP refinances represented 3&#160;percent of total refinances in Illinois -- triple&#160;the 1&#160;percent of total&#160;refinances nationwide over the same period.</li></ul></ul><div> <br> </div><ul><li>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.<br></li><li>Nine&#160;states and one U.S. territory&#160;accounted for over 70 percent of the nation's HARP eligible loans with a refinance incentive as of September 30, 2017.<br></li></ul><div></div>4/12/2018 3:00:25 PM219https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Credit Risk Transfer Progress Report 4Q201724887<p>​From the beginning of the Enterprises' Single-Family CRT programs in 2013 through the end of 2017, Fannie Mae and Freddie Mac have transferred a portion of credit risk on $2.1 trillion of unpaid principal balance (UPB), with a combined Risk in Force (RIF) of about $69 billion, or 3.2 percent of UPB.&#160; An additional $972 billion of UPB and $246 billion of RIF has been transferred to primary mortgage insureers from 2013 through the end of 2017.&#160; Through CRT and mortgage insurance, the majority of the underliying mortgage credit risk on mortgages targeted for CRT has been transferred to private investors.</p><p>In 2017, the Enterprises transferred risk on $689 billion of UPB with a total RIF of $20.6 billion.&#160; Debt issuances accounted for 69 percent of RIF, reinsurance transactions accounted for 22 percent of RIF, lender risk sharing accounted for 8 percent of RIF, and senior/subordinate transactions accounted for 1 percent of RIF. &#160;</p><p><a href="/Media/PublicAffairs/Pages/FHFA-Updates-Progress-on-Fannie-and-Freddie-CRT-Transfer-Programs-3292018.aspx">Related News Release</a></p>3/29/2018 3:00:52 PM381https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
2017 Scorecard Progress Report24896<p>This <em>Progress Report</em> summarizes major activities of Fannie Mae and Freddie Mac in 2017 that contributed to achieving FHFA’s three strategic goals as conservator of the Enterprises, established by FHFA in the <a href="/AboutUs/Reports/Pages/2014-Conservatorships-Strategic-Plan.aspx"> <em>2014 Strategic Plan for the Conservatorships of Fannie Mae and Freddie Mac</em></a> (2014 Conservatorship Strategic Plan)&#58;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </p><ol dir="ltr" style="text-align&#58;left;margin-right&#58;0px;"><li><strong>MAINTAIN</strong>, in a safe and sound manner, foreclosure prevention activities and credit availability for new and refinanced mortgages to foster liquid, efficient, competitive, and resilient national housing finance markets; </li><li><strong>REDUCE </strong>taxpayer risk through increasing the role of private capital in the mortgage market; and </li><li><strong>BUILD </strong>a new single-family securitization infrastructure for use by the Enterprises and adaptable for use by other participants in the secondary market in the future. </li></ol><p dir="ltr" style="text-align&#58;left;margin-right&#58;0px;">The <a href="/AboutUs/Reports/ReportDocuments/2017-Scorecard-for-Fannie-Mae-Freddie-Mac-and-CSS.pdf"> <em>2017 Scorecard for Fannie Mae, Freddie Mac, and Common Securitization Solutions </em></a>(2017 Scorecard) sets forth FHFA’s expectations for 2017 relative to those strategic goals and requires the Enterprises to consider diversity and inclusion when conducting their respective business activities and initiatives to further the three strategic conservatorship goals. </p><p> <a href="/Media/PublicAffairs/Pages/FHFA-Report-Details-Progress-on-the-2017-Scorecard-for-Fannie-Mae-and-Freddie-Mac.aspx">Link to Related News Release</a></p>3/29/2018 5:00:48 PM429https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index Report - January 201824838<p>The FHFA House Price Index (HPI) reported a&#160;0.8 percent&#160;increase in U.S. house prices in&#160;January from the previous month.&#160; From&#160;January 2017 to&#160;January&#160;2018, house prices were up&#160;7.3&#160;percent.&#160; For the nine census divisions, seasonally adjusted monthly price changes from&#160;December 2017 to&#160;January 2018 ranged from&#160;-0.7&#160;percent in the&#160;West South Central division to +1.2&#160;percent in the&#160;New England and Pacific divisions.&#160; The 12-month changes were all positive, ranging from +5.1&#160;percent in the&#160;West South Central&#160;division to +10.0&#160;percent in the&#160;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-January-2018.aspx">Related News Release</a></p>3/22/2018 1:00:53 PM2521https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Refinance Report - January 201824755<h1>​January 2018 Highlights</h1><div><br></div><ul><li>Total refinance volume decreased&#160;in January 2018&#160;as mortgage rates&#160;in December rose, continuing a trend first&#160;observed in October. Mortgage rates increased in January&#58; the average interest rate on a 30‐year fixed rate mortgage rose&#160;to 4.03&#160;percent from 3.95&#160;percent in December.<br></li></ul><div><p>Additional January highlights include the following&#58;</p><p></p><ul><ul><li>Borrowers completed 1,557&#160;refinances through HARP, bringing total refinances from the inception of the program to 3,485,583.&#160;</li><li>HARP volume represented 1&#160;percent of total refinance volume.</li><li>Six&#160;percent of the loans refinanced through HARP had a loan-to‐value ratio greater than 125 percent.</li><li>Borrowers with loan-to-value ratios greater than 105 percent accounted for 15 percent of the volume of HARP loans.&#160;</li><li>Thirty 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 3 percent&#160;of total&#160;refinances in Georgia&#160;and Illinois -- triple the 1 percent of total refinances nationwide over the same period.</li></ul></ul><ul><li>Borrowers who refinanced through HARP had a lower delinquency rate compared to borrowers eligible for HARP who did not refinance through the program.<br></li><li>Nine&#160;states&#160;and one U.S. territory accounted for over 70 percent of the nation's HARP eligible loans with a refinance incentive as of September 30, 2017.<br></li></ul><p></p><p></p><p></p><p></p><p></p><p></p><p></p><p></p><p></p><p></p><p></p><p></p><p></p><p></p><p></p><p></p><p></p></div>3/15/2018 3:00:45 PM346https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index Report - 4Q 2017 / December24258<p>​U.S. house prices rose 1.6 percent in the fourth quarter of 2017 according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI).&#160; &#160;House prices rose 6.7 percent from the fourth quarter of 2016 to the fourth quarter of 2017.&#160; FHFA’s seasonally adjusted monthly index for December was up 0.3 percent from November.&#160;&#160;</p><div>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/JAVT0sY7ACk"> video of highlights</a> for this quarter.&#160;&#160;</div><div><br></div><div>“The fourth quarter showed absolutely no letup in the remarkable pace of home price appreciation through the country, “said Andrew Leventis, Deputy Chief Economist.&#160; “As we begin to track home prices in the first quarter, we will be interested to see whether new headwinds—higher mortgage rates and changes in tax laws—will lead to any moderation in the rate of price growth.”</div><div><br></div><div><strong>Significant Findings</strong></div><div><ul><li>Home prices rose in 49 states (all except Mississippi) and the District of Columbia between the fourth quarter of 2016 and the fourth quarter of 2017.&#160; The top five areas in annual appreciation were&#58;&#160; 1) District of Columbia 14.3 percent; 2) Washington 12.0 percent; 3) Idaho 11.5 percent; 4) Nevada 11.5 percent; and 5) Utah 10.7 percent.<br></li><li>Home prices rose in each of the 100 largest metropolitan areas in the U.S. over the last four quarters.&#160; Annual price increases were greatest in the Seattle-Bellevue-Everett, WA (MSAD), where prices increased by 15.0 percent.&#160; Prices were weakest in San Francisco-Redwood City-South San Francisco, CA (MSAD), where they rose 0.5 percent.<br></li><li>Of the nine census divisions, the Mountain division experienced the strongest annual appreciation, posting an 8.8 percent gain since the fourth quarter of last year and a 2.3 percent increase since the third quarter of 2017.&#160; Annual house price appreciation was weakest in the Middle Atlantic division, where prices rose 5.3 percent annually.&#160;<br></li></ul></div><div><a href="/Media/PublicAffairs/Pages/US-House-Prices-Rise-1pt6-Percent-in-Fourth-Quarter-2017.aspx">Related News Release</a><br></div>2/27/2018 2:00:59 PM4313https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Refinance Report - Fourth Quarter 201723914<ul><li>Total refinance volume increased in December 2017 as mortgage rates in November remained below the levels observed at the beginning of the year. Mortgage rates increased in December&#58; the average interest rate on a 30‐year fixed rate mortgage rose to 3.95 percent from 3.92 percent in November.<br><br>In the fourth quarter of 2017&#58;</li><ul><li>Borrowers completed 6,309 refinances through HARP, bringing total refinances from the inception of the program to 3,484,025.</li><li>HARP volume represented one percent of total refinance volume.</li></ul></ul><blockquote dir="ltr" style="margin-right&#58;0px;"><p>Year to date through December 2017&#58;</p></blockquote><ul dir="ltr"><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‐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>HARP refinances represented five or more percent of total refinances in Nevada and Florida ‐‐ more than double the two percent of total refinances nationwide over the same period.</li></ul></ul><ul dir="ltr"><li><div>In December, 5 percent of the loans refinanced through HARP had a loan‐to‐value ratio greater than 125 percent.</div></li><li><div>Borrowers who refinanced through HARP had a lower delinquency rate compared to borrowers eligible for HARP who did not refinance through the program.</div></li><li><div>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 September 30, 2017.</div></li></ul>2/14/2018 6:00:57 PM682https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price - November 201723360<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;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;">The FHFA House Price Index (HPI) reported a&#160;0.4 percent&#160;increase in U.S. house prices in&#160;November from the previous month.&#160;&#160;From&#160;November 2016 to&#160;November 2017, house prices were up&#160;6.5&#160;percent.&#160; For the nine census divisions, seasonally adjusted monthly price changes from&#160;October 2017 to&#160;November 2017 ranged from&#160;-1.1&#160;percent in the&#160;East South Central division to +0.9&#160;percent in the&#160;West North Central division.&#160; The 12-month changes were all positive, ranging from +4.2&#160;percent in the&#160;Middle Atlantic&#160;division to +8.9&#160;percent in the&#160;Mountain division.​</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;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;">Monthly index values and appreciation rate estimates for recent periods are provided in the table and graphs in the attachment.</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;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;"><a href="/Media/PublicAffairs/Pages/FHFA-House-Price-Index-Up-0pt4-Percent-in-November-2017.aspx">Related News Release</a></p>1/24/2018 2:00:46 PM3029https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Refinance Report - November 201724226<h2>November 2017 Highlights</h2><ul><br> <li>Total refinance volume increased in November 2017 as mortgage rates in October remained below the levels observed at the&#160;beginning of the year. Mortgage rates increased in November&#58; the average interest rate on a 30‐year fixed rate mortgage rose to 3.92 percent from 3.90 percent in October.<br></li></ul><blockquote style="margin&#58;0px 0px 0px 40px;padding&#58;0px;border&#58;currentcolor;"><div><p>In November 2017&#58;</p></div></blockquote><div><ul><ul><li>Borrowers completed 2,123 refinances through HARP, bringing total refinances from the inception of the program to&#160;3,482,023.&#160;</li><li>HARP volume represented 1 percent of total refinance&#160;volume.&#160;</li><li>Five percent of the loans refinanced through HARP had a loan‐to‐value ratio greater than 125 percent.</li></ul></ul></div><blockquote style="margin&#58;0px 0px 0px 40px;padding&#58;0px;border&#58;currentcolor;"><div><p dir="ltr" style="text-align&#58;left;">Year to date through November 2017&#58;</p></div></blockquote><div><ul><ul><li>B<span style="text-align&#58;right;">orrowers with loan‐to‐value ratios greater than 105 percent accounted for 19 percent of the volume of HARP loans.</span></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.</li><li>HARP refinances represented 5 or more percent of total refinances in Nevada and Florida ‐‐ more than double the 2 percent of total refinances nationwide over the same period.<br></li></ul></ul><ul><li>Borrowers who refinanced through HARP had a lower delinquency rate compared to borrowers eligible for HARP who did not&#160;refinance&#160;through the program.<br></li><li>Nine states and one U.S. territory accounted for over 60 percent&#160;of the nation's HARP eligible loans with a refinance incentive as of&#160;June 30, 2017.<br></li></ul><p></p><p></p></div><div><p></p><p> <span style="text-align&#58;right;"></span></p></div>1/16/2018 6:00:43 PM958https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx

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