Reports and Plans

 

 

Refinance Report - April 201825620<div>April 2018 Highlights</div><div><br></div><div>Total refinance volume decreased in April 2018 as mortgage rates rose in March, continuing a trend first observed in October 2017.&#160;&#160;Mortgage rates increased in April&#58; the average interest rate on a 30‐year fixed rate mortgage rose to 4.47 percent from 4.44 percent in March, reaching levels last observed in 2013.</div><div><br></div><div>In April 2018&#58;<br></div><div><ul><li>Borrowers completed 1,017 refinances through HARP, bringing total refinances from the inception of the program to 3,489,182.</li><li>HARP volume represented 1 percent of total refinance volume.</li><li>Three percent of the loans refinanced through HARP had a loan‐to‐value ratio greater than 125 percent.</li></ul></div><div>Year to date through April 2018&#58;&#160;</div><div><ul><li>Borrowers with loan‐to‐value ratios greater than 105 percent accounted for 15 percent of the volume of HARP loans.<br></li><li>Thirty‐three 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 percent of total refinances in Illinois compared to 1 percent of total refinances nationwide over the same period.</li></ul></div><div>Borrowers who refinanced through HARP had a lower delinquency rate compared to borrowers eligible for HARP who did not refinance through the program.<br></div><div><br></div><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</div><div>December 31, 2017.<br></div>6/14/2018 3:00:40 PM122https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index Report - 1Q 2018 / March25229<p>U.S. house prices rose <strong>1.7 percent</strong> in the first quarter of 2018 according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI).&#160; &#160;House prices rose <strong>6.9 percent</strong> from the first quarter of 2017 to the first quarter of 2018.&#160; FHFA's seasonally adjusted monthly index for March was up <strong>0.1 percent </strong>from February.&#160;</p><p>The HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac. </p><p>See <a href="https&#58;//youtu.be/wAUvUWBv6RY">video</a> for the first quarter featuring Dr. Doerner.</p><p> <strong>Significant Findings</strong> </p><ul><li><p>Home prices rose in all 50 states and the District of Columbia between the first quarter of 2017 and the first quarter of 2018.&#160;The top five areas in annual appreciation were&#58; &#160;1) Nevada&#160;13.7 percent; 2) Washington&#160;13.1 percent; 3) Idaho 11.1 percent; 4) Colorado 10.6 percent; and 5) Utah 9.9 percent.</p></li><li><p>Home prices rose in each&#160;of the 100 largest metropolitan areas in the U.S. over the last four quarters.&#160;&#160;Annual price increases were greatest in Las Vegas-Henderson-Paradise, NV, where prices increased by 17.1 percent.&#160; Prices were weakest in Tulsa, OK where they rose 0.8 percent.</p></li><li><p>Of the nine census divisions, the Pacific division experienced the strongest&#160;four quarter appreciation,&#160;posting a 9.5 percent gain between&#160;the first quarters of 2017 and 2018 and a 2.6 percent increase&#160;in the first quarter of&#160; 2018.&#160; Annual house price appreciation was weakest in the East South Central division, where prices rose 5.3 percent&#160; between the first quarters of 2017 and 2018.</p></li></ul><p><a href="/Media/PublicAffairs/Pages/US-House-Prices-Rise-1pt7-Percent-in-First-Quarter-2018.aspx">Related News Release</a> </p>5/24/2018 1:00:20 PM2163https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Refinance Report - First Quarter 201825170<h2 style="margin&#58;0px;font-weight&#58;900;font-family&#58;lato, sans-serif;color&#58;#404040;font-size&#58;22px;border&#58;0px;font-stretch&#58;inherit;vertical-align&#58;baseline;padding&#58;0px;background-color&#58;#ffffff;">First Quarter 2018&#160;Highlights&#160;</h2><h2 style="margin&#58;0px;font-weight&#58;900;font-family&#58;lato, sans-serif;color&#58;#404040;font-size&#58;22px;border&#58;0px;font-stretch&#58;inherit;vertical-align&#58;baseline;padding&#58;0px;background-color&#58;#ffffff;"> <span style="font-family&#58;&quot;source sans pro&quot;, sans-serif;"><br></span></h2><ul><li>Total refinance volume decreased in March 2018&#160;as mortgage rates rose in February, continuing a trent first observed in October 2017.&#160; Mortgage rates increased in March&#58;&#160;the average interest rate on a 30‐year fixed rate mortgage rose to 4.44&#160;percent from 4.33&#160;percent in February, reaching levels last observed in 2014.<br></li></ul><blockquote style="margin&#58;0px 0px 0px 40px;border&#58;none;padding&#58;0px;"><p>In the first quarter of 2018&#58;</p></blockquote><ul><ul><li>Borrowers completed 4,139&#160;refinances through HARP, bringing total refinances from the inception of the program to 3,488,165.</li><li>HARP volume represented 1&#160;percent of total refinance volume.</li><li>Borrowers with loan‐to‐value ratios greater than 105 percent accounted for 16&#160;percent of the volume of HARP loans.</li><li>Thirty-four&#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.</li><li>HARP refinances represented 3&#160;percent of total refinances in Illinois -- triple the 1&#160;percent of total refinances nationwide over the same period.</li></ul><li>I<span style="font-family&#58;&quot;source sans pro&quot;, sans-serif;">n March, 6&#160;percent of the loans refinanced through HARP had a loan‐to‐value ratio greater than 125 percent.</span><br></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.<br></li><li>Nine&#160;states and one U.S. terriitory&#160;accounted for over 70&#160;percent of the nation's HARP eligible loans with a refinance incentive as of December 31, 2017.<br></li></ul> <font color="#000000" face="Times New Roman" size="3" style="background-color&#58;#ffffff;"></font><font color="#000000" face="Times New Roman" size="3" style="background-color&#58;#ffffff;"></font><font color="#000000" face="Times New Roman" size="3" style="background-color&#58;#ffffff;"></font> <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;background-color&#58;#ffffff;color&#58;#404040 !important;"><a href="/Media/PublicAffairs/Pages/Fannie-Mae-and-Freddie-Mac-Refinance-Volume-Down-in-First-Quarter-2018-as-Mortgage-Rates-Rise.aspx">Related News Release</a><br></p>5/15/2018 3:01:04 PM433https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx