FHFA: Index Shows Mortgage Rates Increased in April 2018
Nationally, interest rates on conventional purchase-money mortgages increased from March to April, 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 4.51 percent for loans closed in late April, up 2 basis points from 4.49 percent in March….
FHFA: U.S. House Prices Rise 1.7 Percent in First Quarter 2018
Monthly Index Shows 0.1 Percent Increase in March U.S. house prices rose 1.7 percent in the first quarter of 2018 according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). House prices rose 6.9 percent from the first quarter of 2017 to the first quarter of 2018. FHFA’s seasonally adjusted monthly index for…
CDFI Fund: Application Demand Released for FY 2018 CDFI Program and NACA Program
The fiscal year (FY) 2018 application round for the Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program) closed on April 4, 2018. The Community Development Financial Institutions Fund (CDFI Fund) received 538 applications from 485 organizations across the country requesting a total of $504.5 million. Specifically1: 432 organizations…
HUD & Census Bureau: New Residential Sales Report for April 2018
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential sales statistics for April 2018: New Home Sales Sales of new single-family houses in April 2018 were at a seasonally adjusted annual rate of 662,000. This is 1.5 percent (±11.8 percent)* below the revised March…
FHFA: 2017 Report to Congress Released
The Federal Housing Finance Agency (FHFA) today released its 2017 Report to Congress. The statutorily-required report provides information about FHFA’s 2017 examinations of Fannie Mae, Freddie Mac (the Enterprises), 11 Federal Home Loan Banks (FHLBanks) and the FHLBanks’ Office of Finance. The report also describes FHFA’s actions as conservator of the Enterprises during the year…
Federal Reserve: Board Issues Report on the Economic Well-Being of U.S. Households
The Federal Reserve Board’s latest Report on the Economic Well-Being of U.S. Households finds that economic well-being has generally improved over the past five years. The report notes that 74 percent of adults reported they were doing at least OK financially in 2017‑‑up 10 percentage points from the first survey in 2013. Even so, notable…
HUD: Fair Housing Assessment Tool Withdrawn
Flawed assessment tool found to be confusing, difficult to use for local governments After a months-long technical evaluation, the U.S. Department of Housing and Urban Development (HUD) today announced that it is withdrawing a computer assessment tool originally intended to be helpful to local governments in meeting their obligations under the Fair Housing Act to…
ABA: Survey Shows that Regulatory Burden Continues to Restrict Mortgage Lending
Seventy-seven percent of respondents to the American Bankers Association’s 25th annual Real Estate Lending Survey described mortgage regulation as having a negative impact on business production and consumer credit availability. In the survey released today, nearly 3 in 4 bankers said that Qualified Mortgage (QM) rules – which impose stringent rules that exceed “ability to…
HUD and Census Bureau: Residential Construction Activity Report for April 2018
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential construction statistics for April 2018. Building Permits: Privately owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 1,352,000. This is 1.8 percent (±1.3 percent) below the revised…
FHFA: Fannie Mae and Freddie Mac Refinance Volume Down in First Quarter 2018 as Mortgage Rates Rise
The Federal Housing Finance Agency (FHFA) today reported that Fannie Mae and Freddie Mac completed 356,003 refinances in the first quarter of 2018, compared with 446,295 in the fourth quarter of 2017. FHFA’s first quarter Refinance Report also shows that 4,139 loans were refinanced through the Home Affordable Refinance Program (HARP), bringing the total number of HARP…