Preface
This Office of Federal Housing Enterprise Oversight (OFHEO) research paper reviews developments in the housing sector and the primary and secondary mortgage markets, the secondary market activities of Fannie Mae and Freddie Mac, and the financial performance of the Enterprises in 2007. An appendix provides tables with historical data on the activities and performance of the Enterprises, federally-established loan limits, mortgage interest rates, housing activity, and regional and national home prices, which provide a context for the survey of recent activity provided in the paper. The paper is part of OFHEO's ongoing effort to enhance public understanding of the nation's housing finance system. The paper was prepared by Andrew Leventis, Forrest Pafenberg, Valerie Smith, and Jesse Weiher of the Office of Policy Analysis and Research. Scott Laughery and Hanna Nguyen provided research assistance.
James B. Lockhart III
Director
July 2008