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U.S. House Price Index Report - 3Q 201723642<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;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;">U.S. house prices rose 1.4 percent in the third quarter of 2017 according to&#160;the Federal Housing Finance Agency (FHFA) House Price Index (HPI).&#160; House prices rose&#160;6.5 percent from the third quarter of 2016 to the third quarter of 2017.&#160; FHFA’s seasonally&#160;adjusted monthly index for September was up 0.3 percent from August. </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;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 HPI is calculated&#160;using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and&#160;Freddie Mac.&#160; FHFA has produced a&#160;<a href="https&#58;//youtu.be/_bcUNn3vIHk">video of highlights</a>&#160;for this quarter.</p><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;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;"><span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;inherit;font-family&#58;inherit;font-size&#58;inherit;font-style&#58;inherit;font-variant&#58;inherit;vertical-align&#58;baseline;font-stretch&#58;inherit;">Significant Findings</span></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;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;</div><ul><li><div style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;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;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;background-color&#58;#ffffff;text-decoration-style&#58;initial;text-decoration-color&#58;initial;">Home prices rose in 50 states and the District of Columbia between the third quarter of 2016 and the third quarter of 2017.&#160; The top five areas in annual appreciation were&#58; &#160;1) District of Columbia 11.6 percent; 2) Washington 11.5 percent; 3) Hawaii 10.0 percent; 4) Arizona 10.0 percent; and 5) Nevada 9.6 percent.<br></div></li><li><div style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;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;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;background-color&#58;#ffffff;text-decoration-style&#58;initial;text-decoration-color&#58;initial;">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 14.6 percent.&#160; Prices were weakest in Camden, NJ (MSAD), where they rose 0.5 percent.</div></li></ul><ul><li><div style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;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;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;background-color&#58;#ffffff;text-decoration-style&#58;initial;text-decoration-color&#58;initial;">Of the nine census divisions, the Pacific division experienced the strongest annual appreciation, posting an 8.9 percent gain since the third quarter of last year and a 1.7 percent increase since the second quarter of 2017. House price appreciation was weakest in the Middle Atlantic division, where prices rose 4.8 percent annually. </div></li></ul><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/US-House-Prices-Rise-1pt4-Percent-in-Third-Quarter-2017.aspx">Related News Release</a></p><p>Link to <a href="https&#58;//www.youtube.com/watch?v=w_1o6VLsC84&amp;t=1s">video</a> detailing the basic methodology behind the FHFA HPI.</p>11/28/2017 2:01:06 PM1659https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
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 PM256https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention Report - August 201723159<div aria-labelledby="ctl00_PlaceHolderMain_ctl03_label" style="display&#58;inline;"><div class="custom-contentTypeContent"><p>AUGUST 2017&#160;HIGHLIGHTS</p><p><strong>The Enterprises' Foreclosure Prevention Actions&#58;</strong></p><ul style="list-style-type&#58;disc;"><li>The Enterprises completed 15,298 foreclosure prevention actions in August, bringing the total to 3,960,367 since the start of the conservatorships in September 2008. Over half of these actions have been permanent loan modifications.</li><li>There were 11,234&#160;permanent loan modifications in August, bringing the total to 2,109,381&#160;since the conservatorships began in September 2008.</li><li>The share of modifications with principal forbearance increased to&#160;34&#160;percent while modifications&#160;with extend-term only decreased slightly to&#160;46 percent&#160;in August.</li><li>There were 1,277&#160;short sales and deeds-in-lieu of foreclosure completed in August, up 4&#160;percent compared with July.</li></ul><p><strong>The Enterprises' Mortgage Performance&#58;</strong></p><ul style="list-style-type&#58;disc;"><li>The serious delinquency rate fell slightly from 0.94&#160;percent at the end of July to 0.93 percent at the end of August.</li></ul><p><strong>The Enterprises' Foreclosures&#58;</strong></p><ul style="list-style-type&#58;disc;"><li>Third-party and foreclosure sales increased&#160;from 5,117 in July to 5,612&#160;in August.</li><li>Foreclosure starts increased from 12,255&#160;in July to 17,652&#160;in August.</li></ul></div></div>11/7/2017 4:00:33 PM349https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx