FHFA: Index Shows Mortgage Rates Decreased in October 2017
Nationally, interest rates on conventional purchase-money mortgages decreased from September to October, according to several indices of new mortgage contracts. The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 3.98 percent for loans closed in late October, down 2 basis points from 4.00 percent in September….
FHFA: U.S. House Prices Rise 1.4 Percent in Third Quarter 2017
U.S. house prices rose 1.4 percent in the third quarter of 2017 according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). House prices rose 6.5 percent from the third quarter of 2016 to the third quarter of 2017. FHFA’s seasonally adjusted monthly index for September was up 0.3 percent from August. The…
FHFA: Maximum Conforming Loan Limits Announced for 2018
The Federal Housing Finance Agency (FHFA) today announced the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2018. In most of the U.S., the 2018 maximum conforming loan limit for one-unit properties will be $453,100, an increase from $424,100 in 2017. Baseline limit The Housing and Economic…
FHFA: 2018 Multifamily Lending Caps for Fannie Mae and Freddie Mac Announced
The Federal Housing Finance Agency (FHFA) today announced that the 2018 multifamily lending caps for Fannie Mae and Freddie Mac (the Enterprises) will be $35 billion for each Enterprise, down from $36.5 billion in 2017. The caps are based on projections of the overall size of the 2018 multifamily originations market, which FHFA expects to…
FHFA: Total Refinance Volume Ticks Up Slightly in Third Quarter 2017
The Federal Housing Finance Agency (FHFA) today reported that more than 362,934 refinances were completed in the third quarter of 2017, compared with 356,707 in the second quarter. FHFA’s third quarter Refinance Report also shows that more than 6,913 loans were refinanced through the Home Affordable Refinance Program (HARP), bringing the total number of HARP…
FHFA: Fannie Mae and Freddie Mac Will Re-enter the LIHTC Market
Equity Investments Will Support Underserved Markets The Federal Housing Finance Agency (FHFA) today announced that Fannie Mae and Freddie Mac (the Enterprises) will be allowed limited re-entry into the Low Income Housing Tax Credit (LIHTC) market as equity investors, effective immediately. The LIHTC, established in the Tax Reform Act of 1986, is the primary government program…
FHFA: 2017 Performance and Accountability Report Released
The Federal Housing Finance Agency (FHFA) today released its Performance and Accountability Report, which details FHFA’s activities as regulator of the Federal Home Loan Bank System and as regulator and conservator of Fannie Mae and Freddie Mac during fiscal year 2017. For the ninth consecutive year, FHFA received an unmodified audit opinion on its FY…
FHFA: Index Shows Mortgage Rates Decreased in September 2017
Nationally, interest rates on conventional purchase-money mortgages decreased from August to September, according to several indices of new mortgage contracts. The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 4.00 percent for loans closed in late September, down 5 basis points from 4.05 percent in August….
FHFA: House Price Index Up 0.7 Percent in August 2017
U.S. house prices rose in August, up 0.7 percent from the previous month, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI). The previously reported 0.2 percent increase in July was revised upward to 0.4 percent. The FHFA monthly HPI is calculated using home sales price information from mortgages…
FHFA: Preferred Language Question to be Added to the Redesigned Uniform Residential Loan Application
The Federal Housing Finance Agency (FHFA) today announced its decision to add a preferred language question to the redesigned Uniform Residential Loan Application (URLA). This question will enable borrowers who prefer to communicate in a language other than English to identify that language. It also provides clear disclosures that the mortgage transaction is likely to…