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FHFA Refinance Report Shows Refinance Volumes Dropped in September
PageContent Washington, D.C. – Fannie Mae and Freddie Mac refinanced more than 3.5 million mortgage loans in 2009 through September of this year. In the month of September, 262,000 mortgages were refinanced—a drop from the volume of the preceding month—with mortgage rates still higher than levels...
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FHFA Sends Two Reports to Congress on Mortgage Market
Washington, D.C. – Acting FHFA Director Edward J. DeMarco today sent two reports to Congress pursuant to requirements of the Housing and Economic Recovery Act, passed in July 2008. The reports discuss a number of topics, including mortgage risk, Fannie Mae’s and Freddie Mac’s housing goal...
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FHFA Reports Mortgage Interest Rates, September 2009
Washington, D.C. – The Federal Housing Finance Agency today reported that the average interest rate on conventional 30-year, fixed-rate, mortgage loans of $417,000 or less decreased 7 basis points to 5.23 percent in September. The average interest rate on 15-year, fixed-rate loans of $417,000 or...
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U.S. Monthly House Price Index Estimates 0.3 Percent Price Decline from July to August
Washington, D.C. – U.S. home prices fell 0.3 percent on a seasonally-adjusted basis from July to August, according to the Federal Housing Finance Agency’s monthly House Price Index. The previously reported 0.3 percent increase in July was unrevised. For the 12 months ending in August, U.S. prices...
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Administration Announces Initiative for State and Local Housing Finance Agencies
Joint Release U.S. Department of the Treasury Department of Housing and Urban Development Federal Housing Finance Agency Washington, D.C. – As part of its comprehensive plan to stabilize the U.S. housing market, the Obama Administration today announced a new initiative for state and local...
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Fannie Mae and Freddie Mac HAMP Trial Modifications Increase More Than 40 Percent In September
Washington, D.C. – Fannie Mae and Freddie Mac’s trial mortgage loan modifications under the Administration’s Home Affordable Modification Program (HAMP) were up more than 40 percent in September 2009 from the previous month. Completed loan modifications are also expected to increase when borrowers...
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FHFA Announces 2010 Budget
Washington, D.C. – FHFA Acting Director Edward J. DeMarco today announced a Fiscal Year (FY) 2010 budget of $139.3 million for the Federal Housing Finance Agency, an increase of 15 percent from the FHFA FY 2009 budget of $120.8 million. FHFA will also issue a special assessment of $10.4 million on...
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Fannie Mae and Freddie Mac Implement HAMP During Second Quarter
Washington, D.C. – The Federal Housing Finance Agency released its second quarter Foreclosure Prevention Report, which shows that trial loan modifications under the Administration’s Home Affordable Modification Program (HAMP) announced in March are rising steadily. This development explains why...
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FHFA Refinance Report Underscores Impact of Interest Rates on Refinance Volumes
Washington, D.C. – Fannie Mae and Freddie Mac refinanced more than 3.2 million mortgage loans in 2009 through August of this year. In the month of August alone, nearly 360,000 mortgages were refinanced. The numbers were announced today by Edward J. DeMarco, Acting Director of the Federal Housing...
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FHFA Reports Mortgage Interest Rates, August 2009
Washington, D.C. – The Federal Housing Finance Agency today reported that the average interest rate on conventional 30-year, fixed-rate, mortgage loans of $417,000 or less decreased 1 basis point to 5.30 percent in August. The average interest rate on 15-year, fixed-rate loans of $417,000 or less...