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 Releases, Statements, Speeches and Testimony

 

 

FHFA Index Shows Mortgage Rates Increased in November2382612/28/2017 5:00:00 AMNews Release<p><strong>Washington, D.C.</strong> – Nationally, interest rates on conventional purchase-money mortgages increased from October to November, according to several indices of new mortgage contracts. </p><p><strong>The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index </strong>was 4.05 percent for loans closed in late November, up 7 basis points from 3.98 percent in October. &#160;</p><p><strong>The average interest rate on all mortgage loans</strong> was 4.03 percent, up 6 basis points from 3.97 in October.</p><p><strong>The average interest rate on conventional, 30-year, fixed-rate mortgages of $424,100</strong> or less was 4.17 percent, up 6 basis points from 4.11 in October.</p><p><strong>The effective interest rate on all mortgage loans</strong> was 4.06 percent in November, up 5 basis points from 4.01 in October. &#160;The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.</p><p><strong>The average loan amount</strong> for all loans was $307,800 in November, up $300 from $307,500 in October.</p><p>FHFA will release December index values Thursday, January 25, 2018.</p><p>For more information, call David Roderer at (202) 649-3206. To hear recorded index information, call (202) 649-3993. &#160;To find the complete contract rate series, go to <a href="/DataTools/Downloads/Pages/Monthly-Interest-Rate-Data.aspx">https&#58;//www.fhfa.gov/DataTools/Downloads/Pages/Monthly-Interest-Rate-Data.aspx</a>. </p><p style="text-align&#58;center;"><img class="ms-rtePosition-4" alt="National Average Contract Mortgage Rate - Previously Occupied Homes Graph. Data from November 2016 to November 2017." src="/Media/PublicAffairs/PublishingImages/Pages/Forms/EditForm/NACMR_12282017.JPG" style="margin&#58;5px;" /></p><p style="text-align&#58;left;">Technical note&#58; The indices are based on a small monthly survey of mortgage lenders, which may not be representative. &#160;The sample is not a statistical sample but is rather a convenience sample. &#160;Survey respondents were asked to report terms and conditions of all conventional, single-family, fully amortized purchase-money loans closed during the last five working days of the month.&#160; Unless otherwise specified, the indices include 15-year mortgages and adjustable-rate mortgages.&#160; The indices do not include mortgages guaranteed or insured by either the Federal Housing Administration or the U.S. Department of Veterans Affairs. &#160;The indices also exclude refinancing loans and balloon loans.&#160; November 2017 values are based on 3,658 reported loans from 14 lenders, which include savings associations, mortgage companies, commercial banks, and mutual savings banks.&#160;&#160;&#160;&#160; </p>1/4/2018 9:12:14 PM1011https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx
Statement from FHFA Director Melvin L. Watt on Capital Reserve for Fannie Mae and Freddie Mac2369512/21/2017 5:00:00 AMStatement<p>“The Federal Housing Finance Agency (FHFA), as conservator of Fannie Mae and Freddie Mac, and the Department of the Treasury have agreed to reinstate a $3 billion capital reserve amount under the Senior Preferred Stock Purchase Agreements for each Enterprise beginning in the fourth quarter of 2017.&#160; While it is apparent that a draw will be necessary for each Enterprise if tax legislation results in a reduction to the corporate tax rate, FHFA considers the $3 billion capital reserve sufficient to cover other fluctuations in income in the normal course of each Enterprise’s business. &#160;We, therefore, contemplate that going forward Enterprise dividends will be declared and paid beyond the $3 billion capital reserve in the absence of exigent circumstances.” </p> <br> <a href="/Media/PublicAffairs/Documents/GSEletteragreementfnm12-21-2017.pdf"><em>Fannie Mae Letter Agreement</em></a><br> <br><a href="/Media/PublicAffairs/Documents/GSEletteragreementfre12-21-2017.pdf"> <em>Freddie Mac Letter Agreement</em></a>1/4/2018 7:55:48 PM6824https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx
FHFA House Price Index Up 0.5 Percent in October2369712/21/2017 5:00:00 AMNews Release<p><strong>Washington, D.C.</strong> – U.S. house prices rose in October, up <strong>0.5 percent</strong> from the previous month, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI). The previously reported 0.3 percent increase in September was revised upward to 0.5 percent.&#160;</p><p> The FHFA monthly HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac. From October 2016 to October 2017, house prices were up <strong>6.6 percent</strong>.&#160;</p><p> For the nine census divisions, seasonally adjusted monthly price changes from September 2017 to October 2017 ranged from -0.4 percent in the West North Central division to <strong>+2.8 percent</strong> in the East South Central division. The 12-month changes were all positive, ranging from <strong>+4.8 percent </strong>in the West North Central division to <strong>+8.7 percent</strong> in the Pacific division.&#160;<br></p><p> Monthly index values and appreciation rate estimates for recent periods are provided in the table and graphs on the following pages. Complete historical downloadable data and HPI release dates for 2018 are available on the <a href="/hpi">HPI page</a>.</p><p> For detailed information on the HPI, see <a href="/Media/PublicAffairs/Pages/Housing-Price-Index-Frequently-Asked-Questions.aspx">HPI Frequently Asked Questions (FAQ)</a>. The next HPI report will be released January 24, 2018 and will include monthly data through November 2017. </p>12/21/2017 2:00:28 PM1037https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx