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U.S. House Price Index Report - 2023Q139982<p>​​U.S. house prices rose<strong> 4.3 percent</strong> between the first quarters of 2022 and 2023, according to the Federal Housing Finance Agency (FHFA) House Price Index (FHFA HPI®). House prices were up <strong>0.5 percent</strong> compared to the fourth quarter of 2022. FHFA’s seasonally adjusted monthly index for March was up <strong>0.6 percent</strong> from February.</p><p style="border&#58;0px;font-stretch&#58;inherit;font-size&#58;14px;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif;vertical-align&#58;baseline;padding&#58;0px;color&#58;#404040;background-color&#58;#ffffff;">Tables and graphs showing home price statistics for metropolitan areas, states, census divisions, and the U.S. are included&#160; in the attachment.&#160;<br></p><p> <a href="/Media/PublicAffairs/Pages/US-House-Prices-Rise-4pt3-Percent-over-the-Last-Year-Up-0pt5-Percent-from-Q4.aspx">Related News Release</a>​<br></p>5/30/2023 1:00:36 PMHome / About FHFA / Reports / U.S. House Price Index Report - 2023Q1 House Price Index 2118https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention, Refinance, and Federal Property Manager's Report - February 202340605<h2 style="padding-bottom&#58;10px !important;padding-top&#58;8px !important;">​​​​​​February 2023&#160;Highlights - Foreclosure Prevention<br></h2><p style="padding-top&#58;0px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;">The Enterprises' Foreclosure Prevention Actions&#58;​<br></p><ul><li style="line-height&#58;1.3 !important;padding-top&#58;4px !important;margin-top&#58;4px !important;">The Enterprises completed 19,027 foreclosure prevention actions in February, bringing the total to 6,751,437 since the start of the conservatorships in September 2008. Approximately 39 percent of these actions have been permanent loan modifications.</li><li style="line-height&#58;1.3 !important;">There were 4,813 permanent loan modifications in February, bringing the total to 2,635,180 since the conservatorships began in September 2008.</li><li style="line-height&#58;1.3 !important;">Approximately 73 percent of loan modifications in February involved extend term only. Modifications with principal forbearance accounted for 16 percent of all loan modifications during the month.</li><li style="line-height&#58;1.3 !important;">The number of borrowers who received payment deferrals after completing a COVID-19 related forbearance plan increased 3 percent from 9,020 in January to 9,308 in February 2023.</li><li style="line-height&#58;1.3 !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;">​Initiated forbearance plans decreased from 12,776 in January to 11,183 in February 2023. The total number of loans in forbearance also decreased from 76,963 at the end of January to 70,637 at the end of February, representing approximately 0.23 percent of the total loans serviced and 13 percent of the total delinquent loans.</li></ul> ​ <p style="padding-top&#58;0px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;margin-top&#58;0px !important;"> The Enterprises' Mortgage Performance&#58;&#160;</p><div style="padding-top&#58;0px;"><ul><li style="line-height&#58;1.3 !important;margin-top&#58;4px !important;">The 30-59 days delinquency rate increased to 0.94 percent while the serious delinquency rate declined to 0.63 percent at the end of February.</li></ul></div><p style="padding-top&#58;8px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;"> The Enterprises' Foreclosures&#58;​<br></p><div style="padding-top&#58;0px;"><ul><li style="line-height&#58;1.3 !important;margin-top&#58;4px !important;">Third-party and foreclosure sales decreased 14 percent to 1,150 while foreclosure starts increased 5 percent to 6,710 in February.</li></ul></div><h2 style="padding-top&#58;16px !important;padding-bottom&#58;8px !important;">February 2023&#160;Highlights - Refinance Activities</h2><div style="padding-top&#58;0px;"><ul><li style="line-height&#58;1.3 !important;">Total refinance volume decreased in February 2023 as mortgage rates decreased from the October peak of 6.90 percent but remained high compared to the levels observed earlier in 2022. Mortgage rates fell in February&#58; the average interest rate on a 30-year fixed rate mortgage decreased to 6.26 percent from a January level of 6.27 percent.</li><li style="line-height&#58;1.3 !important;">The percentage of borrowers refinancing into shorter term 15-year mortgages increased but remained in the range of 11 percent in February. The average interest rate savings of a 15-year mortgage over a 30-year mortgage has been higher in 2022 and 2023 compared to previous years. However, over this period, the higher monthly cost of a 15-year mortgage compared to the greater affordability of a 30-year mortgage has limited borrower interest in the 15-year mortgage due to rising mortgage rates.</li></ul></div>​​<br>5/11/2023 6:22:05 PMHome / About FHFA / Reports / Foreclosure Prevention, Refinance, and Federal Property Manager's Report - February 2023 The Enterprises completed 19,027 foreclosure prevention 805https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
2022 Housing Mission Report: Affordable Housing Activities of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks40096<p style="padding-top&#58;8px !important;">​​​The Federal Housing Finance Agency (FHFA), as regulator and conservator of Fannie Mae and Freddie Mac (the Enterprises), and as regulator of the 11 Federal Home Loan Banks (FHLBanks), is responsible for their effective supervision, regulation, and mission oversight.</p><p>FHFA engages closely with the regulated entities as they work to fulfill their responsibilities to support affordable housing financing, targeted economic development financing, and underserved communities. This report provides a comprehensive look at the mission activities carried out by the regulated entities in 2022.</p><p>Rising interest rates and associated market volatility throughout 2022 resulted in an especially challenging environment for financing affordable housing across the single-family and multifamily business lines. The market saw higher home prices, fewer refinances and home purchase originations, continued rent growth, and ongoing housing supply constraints. When combined with high levels of inflation driving up the costs of daily life, many low- and moderate-income households encountered difficulties accessing affordable housing.</p><p>Despite these uncertain and changing market conditions, the Enterprises and FHLBanks completed a multitude of mission activities in 2022, all while operating in a safe and sound manner. For instance, in addition to overseeing the Enterprises’ statutorily mandated mission programs (i.e., the Enterprise housing goals and Duty to Serve programs), FHFA required the Enterprises to explore how they could better protect tenants living in rental properties, focus on environmental safety issues such as radon, account for the risks associated with climate change, and address barriers to sustainable housing opportunities through their Equitable Housing Finance Plans and other initiatives. Similarly, FHFA oversaw the FHLBanks’ statutorily mandated programs (i.e., Affordable Housing Program, Community Investment Program, and FHLBank housing goals), while also analyzing the FHLBanks’ rural, manufactured housing, and Native American housing performance as described in this report.</p>​<br>4/28/2023 7:05:55 PMThe Federal Housing Finance Agency (FHFA), as regulator and conservator of Fannie Mae and Freddie Mac (the Enterprises), and as regulator of the 11 Federal Home Loan Banks 583https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index - April 202339229<p>U.S. house prices rose in February, up <strong>0.5 percent</strong> from January, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI®). House prices rose <strong>4.0 percent</strong> from February 2022 to February 2023. The previously reported 0.2 percent price increase for January 2023 was revised downward to a 0.1 percent increase.</p><p>For the nine census divisions, seasonally adjusted monthly price changes from January 2023 to February 2023 ranged from <strong>-0.4 percent</strong> in the South Atlantic division to <strong>+2.3 percent</strong> in the East South Central division. The 12-month changes were <strong>-2.7 percent </strong>in the Pacific division to <strong>+8.3 percent</strong> in the East South Central division.<br></p><p>Monthly index values and appreciation rate estimates for recent periods are provided in the tables and graphs in&#160;the attached report. Downloadable data and HPI release dates for all of 2023 are available here&#58; <a href="/HPI">https&#58;//www.fhfa.gov/HPI</a>.</p><p><a href="/Media/PublicAffairs/Pages/FHFA-House-Price-Index-Up-0pt5-Percent-in-February-Up-4-Percent-from-Last-Year.aspx">Related News Release</a></p>4/25/2023 1:00:48 PMHome / About FHFA / Reports / U.S. House Price Index - April 2023 House Price Index 3896https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention, Refinance, and Federal Property Manager's Report - January 202339610<h2 style="padding-bottom&#58;10px !important;padding-top&#58;8px !important;">​​​January 2023&#160;Highlights - Foreclosure Prevention<br></h2><p style="padding-top&#58;0px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;">The Enterprises' Foreclosure Prevention Actions&#58;​<br></p><ul><li style="line-height&#58;1.3 !important;padding-top&#58;4px !important;margin-top&#58;4px !important;">The Enterprises completed 19,577 foreclosure prevention actions in January, bringing the total to 6,732,410 since the start of the conservatorships in September 2008. Approximately 39 percent of these actions have been permanent loan modifications.</li><li style="line-height&#58;1.3 !important;">There were 5,216 permanent loan modifications in January, bringing the total to 2,630,367 since the conservatorships began in September 2008.</li><li style="line-height&#58;1.3 !important;">Approximately 71 percent of loan modifications in January involved extend term only. Modifications with principal forbearance accounted for 15 percent of all loan modifications during the month.</li><li style="line-height&#58;1.3 !important;">The number of borrowers who received payment deferrals after completing a COVID-19 related forbearance plan increased 27 percent from 7,080 in December 2022 to 9,020 in January 2023.</li><li style="line-height&#58;1.3 !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;">​Initiated forbearance plans decreased from 13,986 in December to 12,776 in January. The total number of loans in forbearance also decreased from 81,173 at the end of December to 76,963 at the end of January, representing approximately 0.25 percent of the total loans serviced, and 15 percent of the total delinquent loans.</li></ul> ​ <p style="padding-top&#58;0px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;margin-top&#58;0px !important;"> The Enterprises' Mortgage Performance&#58;&#160;</p><div style="padding-top&#58;0px;"><ul><li style="line-height&#58;1.3 !important;margin-top&#58;4px !important;">The 30-59 days delinquency rate decreased to 0.80 percent while the serious delinquency rate remained flat at 0.65 percent at the end of January.</li></ul></div><p style="padding-top&#58;8px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;"> The Enterprises' Foreclosures&#58;​<br></p><div style="padding-top&#58;0px;"><ul><li style="line-height&#58;1.3 !important;margin-top&#58;4px !important;">Third-party and foreclosure sales increased to 1,334 while foreclosure starts increased slightly to 6,367 in January.</li></ul></div> <h2 style="padding-top&#58;16px !important;padding-bottom&#58;8px !important;">January 2023&#160;Highlights - Refinance Activities</h2><div style="padding-top&#58;0px;"><ul><li style="line-height&#58;1.3 !important;">Total refinance volume decreased in January 2023 as mortgage rates decreased from the October peak of 6.90 percent but remained high compared to the levels observed earlier in 2022. Mortgage rates fell in January&#58; the average interest rate on a 30-year fixed rate mortgage decreased to 6.27 percent from a December level of 6.36 percent.</li><li style="line-height&#58;1.3 !important;">The percentage of borrowers refinancing into shorter term 15-year mortgages increased to 11 percent in January. The average interest rate savings of a 15-year mortgage over a 30-year mortgage has been higher in 2022 and 2023​ compared to previous years. However, over this period, the higher monthly cost of a 15-year mortgage compared to the greater affordability of a 30-year mortgage has limited ​borrower interest in the 15-year mortgage due to rising mortgage rates.</li></ul></div>​<br>4/13/2023 6:00:06 PMHome / About FHFA / Reports / Foreclosure Prevention, Refinance, and Federal Property Manager's Report - January 2023 The Enterprises completed 19,577 foreclosure prevention 873https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index - March 202339306<p style="font-style&#58;normal;">​​House prices rose nationwide in January, up 0.2&#160;percent from December, according to the latest Federal Housing Finance Agency House Price Index (FHFA HPI<span style="font-weight&#58;inherit;font-size&#58;inherit;font-family&#58;inherit;"><font size="2">®</font></span>). House prices rose&#160;<strong>5.3</strong><span style="font-size&#58;inherit;font-family&#58;inherit;font-weight&#58;700 !important;"><strong>&#160;p</strong>ercent&#160;</span>from January 2022&#160;to January 2023. The previously reported 0.1&#160;percent price decline in&#160;December&#160;2022 remained unchanged.</p><p style="font-style&#58;normal;">For the nine census divisions, seasonally adjusted monthly house price changes from December 2022&#160;to January 2023&#160;ranged from&#160;-<span style="font-size&#58;inherit;font-family&#58;inherit;font-weight&#58;700 !important;">0.6&#160;percent</span>&#160;in the Pacific&#160;division to&#160;<span style="font-size&#58;inherit;font-family&#58;inherit;font-weight&#58;700 !important;">+2.0&#160;</span><span style="font-size&#58;inherit;font-family&#58;inherit;font-weight&#58;700 !important;">percent</span>&#160;in the New England division. The 12-month changes were -<span style="font-size&#58;inherit;font-family&#58;inherit;font-weight&#58;700 !important;">1.5&#160;percent</span>&#160;in the Pacific division to +9.6 in the South&#160;Atlantic division.&#160;</p><p style="font-style&#58;normal;"> <span style="font-style&#58;normal;">Monthly index values and appreciation rate estimates for recent periods are provided in the tables and graphs in&#160;the attached report.&#160;Downloadable data and HPI release dates for all&#160;of 2023&#160;are available here&#58;</span><span style="font-style&#58;normal;">&#160;</span><a href="/HPI" style="font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;"><font color="#0066cc">https&#58;//www.fhfa.gov/HPI</font></a><span style="font-style&#58;normal;">.</span></p><p style="font-style&#58;normal;"> <font color="#0066cc"><a href="/Media/PublicAffairs/Pages/FHFA-House-Price-Index-Up-0pt2-Percent-in-January-Up-5pt3-Percent-from-Last-Year.aspx">Related News Release</a></font></p>3/28/2023 1:00:51 PMHome / About FHFA / Reports / U.S. House Price Index - March 2023 House Price Index 3199https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index Report - 4Q 202239399<p> U.S. house prices rose<strong> 8.4 percent </strong>between the fourth quarters of 2021 and 2022, according to the Federal Housing Finance Agency (FHFA) House Price Index (FHFA HPI®). House prices were up <strong>0.3 percent</strong> compared to the third quarter of 2022. FHFA’s seasonally adjusted monthly index for December was down <strong>0.1 percent</strong> from November.<br></p><p style="border&#58;0px;font-stretch&#58;inherit;font-size&#58;14px;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif;vertical-align&#58;baseline;padding&#58;0px;color&#58;#404040;background-color&#58;#ffffff;">Tables and graphs showing home price statistics for metropolitan areas, states, census divisions, and the U.S. are included&#160; in the attachment.&#160;<br></p><p> <a href="/Media/PublicAffairs/Pages/US-House-Prices-Rise-8pt4-Percent-over-the-Last-Year-Up-0pt3-Percent-from-Q3.aspx">Related News Release</a>​<br></p>2/28/2023 2:01:07 PMHome / About FHFA / Reports / U.S. House Price Index Report - 4Q 2022 House Price Index 6070https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention, Refinance, and Federal Property Manager's Report -November 202239027<h2 style="padding-bottom&#58;10px !important;padding-top&#58;8px !important;">November 2022&#160;Highlights - Foreclosure Prevention<br></h2><p style="padding-top&#58;0px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;">The Enterprises' Foreclosure Prevention Actions&#58;​<br></p><ul><li style="line-height&#58;1.3 !important;padding-top&#58;4px !important;margin-top&#58;4px !important;">The Enterprises completed 16,746 foreclosure prevention actions in November, bringing the total to 6,695,943 since the start of the conservatorships in September 2008. Approximately 39 percent of these actions have been permanent loan modifications.</li><li style="line-height&#58;1.3 !important;">There were 5,135 permanent loan modifications in November, bringing the total to 2,620,190 since the conservatorships began in September 2008.</li><li style="line-height&#58;1.3 !important;">Approximately 66 percent of loan modifications in November involved extend term only. Modifications with principal forbearance accounted for 13 percent of all loan modifications during the month.</li><li style="line-height&#58;1.3 !important;">The number of borrowers who received payment deferrals after completing a COVID-19 related forbearance plan decreased 8 percent from 8,200 in October to 7,504 in November.</li><li style="line-height&#58;1.3 !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;">​Initiated forbearance plans decreased from 18,432 in October to 15,190 in November. However, the total number of loans in forbearance increased from 81,556 at the end of October to 83,123 at the end of November, representing approximately 0.27 percent of the total loans serviced, and 16 percent of the total delinquent loans.</li></ul> ​ <p style="padding-top&#58;0px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;margin-top&#58;0px !important;"> The Enterprises' Mortgage Performance&#58;&#160;</p><div style="padding-top&#58;0px;"><ul><li style="line-height&#58;1.3 !important;margin-top&#58;4px !important;">The 30-59 days delinquency rate increased to 0.89 percent while the serious delinquency rate declined to 0.65 percent at the end of November.</li></ul></div><p style="padding-top&#58;8px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;"> The Enterprises' Foreclosures&#58;​<br></p><div style="padding-top&#58;0px;"><ul><li style="line-height&#58;1.3 !important;margin-top&#58;4px !important;">Third-party and foreclosure sales decreased to 1,058 while foreclosure starts increased slightly to 6,201 in November.</li></ul></div><h2 style="padding-top&#58;24px !important;padding-bottom&#58;8px !important;">November 2022 Highlights - Refinance Activities</h2><div style="padding-top&#58;0px;"><ul><li style="line-height&#58;1.3 !important;">Total refinance volume decreased in November 2022 after an increase in mortgage rates in October. Mortgage rates fell in November&#58; the average interest rate on a 30-year fixed rate mortgage decreased to 6.81 percent from an October level of 6.90 percent.</li><li style="line-height&#58;1.3 !important;">The percentage of borrowers refinancing into shorter term 15-year mortgages continued at 13 percent in November. Interest rate savings of a 15-year mortgage over a 30-year mortgage has been higher in 2022 compared to previous years due to the rising mortgage rates since December 2021. However, the higher monthly cost of a 15-year mortgage compared to the greater affordability of a 30-year mortgage has reduced borrower interest in the 15-year mortgage.</li></ul></div>​​<br>​<br>2/16/2023 4:00:34 PMHome / About FHFA / Reports / Foreclosure Prevention, Refinance, and Federal Property Manager's Report -November 2022 The Enterprises completed 16,746 foreclosure prevention 989https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index - January 202338764<p style="padding-top&#58;16px !important;">​​​​​​​​House prices fell <strong>0.1 percent </strong>nationwide in November compared to October, according to the latest Federal Housing Finance Agency (FHFA) House Price Index (HPI®). House prices rose <strong>8.2 percent</strong> from November 2021 to November 2022. The previously reported 0.0 percent price decline in October 2022 remained unchanged.</p><p>For the nine census divisions, seasonally adjusted monthly house price changes from October to November 2022 ranged from <strong>-1.1 percent </strong>in the Pacific division to <strong>+0.5 percent</strong> in the West North Central division. The 12-month changes were all positive, ranging from <strong>+2.4 percent</strong> in the Pacific division to <strong>+12.0 percent</strong> in the South Atlantic division.</p><p style="padding-bottom&#58;32px !important;padding-top&#58;16px !important;"><a href="/Media/PublicAffairs/Pages/FHFA-House-Price-Index-Down-0pt1-Percent-in-November-Up-8pt2-Percent-from-Last-Year.aspx">Related News Release</a>​​​​<br></p>1/31/2023 2:00:42 PMHome / About FHFA / Reports / U.S. House Price Index - January 2023 House Price Index 6933https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention, Refinance, and Federal Property Manager's Report - October 202238674<h2 style="padding-bottom&#58;10px !important;padding-top&#58;8px !important;">​​October 2022&#160;Highlights - Foreclosure Prevention<br></h2><p style="padding-top&#58;0px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;">The Enterprises' Foreclosure Prevention Actions&#58;​<br></p><ul><li style="line-height&#58;1.3 !important;padding-top&#58;4px !important;margin-top&#58;4px !important;">The Enterprises completed 18,833 foreclosure prevention actions in October, bringing the total to 6,679,197 since the start of the conservatorships in September 2008. Approximately 39 percent of these actions have been permanent loan modifications.</li><li style="line-height&#58;1.3 !important;">There were 6,500 permanent loan modifications in October, bringing the total to 2,615,055 since the conservatorships began in September 2008.</li><li style="line-height&#58;1.3 !important;">Approximately 57 percent of loan modifications in October involve extend term only. Modifications with principal forbearance accounted for 12 percent of all loan modifications during the month.</li><li style="line-height&#58;1.3 !important;">The number of borrowers who received payment deferrals after completing a COVID-19 related forbearance plan decreased 10 percent from 9,141 in September to 8,200 in October.</li><li style="line-height&#58;1.3 !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;">​Initiated forbearance plans increased from 13,739 in September to 18,432 in October. The total number of loans in forbearance also increased from 78,432 at the end of September to 81,556 at the end of October, representing approximately 0.26 percent of the total loans serviced, and 16 percent of the total delinquent loans.</li></ul> ​ <p style="padding-top&#58;0px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;margin-top&#58;0px !important;"> The Enterprises' Mortgage Performance&#58;&#160;</p><div style="padding-top&#58;0px;"><ul><li style="line-height&#58;1.3 !important;margin-top&#58;4px !important;">The 30-59 days delinquency rate increased to 0.85 percent while the serious delinquency rate declined to 0.67 percent at the end of October.</li></ul></div><p style="padding-top&#58;8px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;"> The Enterprises' Foreclosures&#58;​<br></p><div style="padding-top&#58;0px;"><ul><li style="line-height&#58;1.3 !important;margin-top&#58;4px !important;">Third-party and foreclosure sales decreased to 1,122 while foreclosure starts increased to 6,192 in October.</li></ul></div><h2 style="padding-top&#58;24px !important;padding-bottom&#58;8px !important;">October​ 2022 Highlights - Refinance Activities</h2><div style="padding-top&#58;0px;"><ul><li style="line-height&#58;1.3 !important;">Total refinance volume decreased in October 2022 amid record high mortgage rates through September. Mortgage rates rose in October&#58; the average interest rate on a 30-year fixed rate mortgage increased to 6.90 percent from a September level of 6.11 percent.</li><li style="line-height&#58;1.3 !important;">The percentage of borrowers refinancing into shorter term 15-year mortgages decreased to 13 percent in October. Interest rate savings of a 15-year mortgage over a 30-year mortgage has been higher in 2022 compared to previous years due to the rising mortgage rates since December 2021. However, the higher monthly cost of a 15-year mortgage compared to the greater affordability of a 30-year mortgage has reduced ​borrower interest in the 15-year mortgage.</li></ul></div>​​<br>1/24/2023 3:00:41 PMHome / About FHFA / Reports / Foreclosure Prevention, Refinance, and Federal Property Manager's Report - October 2022 The Enterprises completed 18,833 foreclosure prevention 1214https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
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