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FHFA House Price Index

FHFA House Price Index rose 0.9% in the second quarter; and rose 5.7 percent from the second quarter of 2023 to the second quarter of 2024.

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About FHFA

The Federal Housing Finance Agency (FHFA) is an independent agency established by the Housing and Economic Recovery Act of 2008 (HERA) and is responsible for the effective supervision, regulation, and housing mission oversight of the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), and the Federal Home Loan Bank System, which includes the 11 Federal Home Loan Banks (FHLBanks) and the Office of Finance (OF). The Agency's mission is to ensure that Fannie Mae and Freddie Mac (the Enterprises) and the FHLBanks (together, "the regulated entities") fulfill their mission by operating in a safe and sound manner to serve as a reliable source of liquidity and funding for housing finance and community investment. Since 2008, FHFA has also served as conservator of Fannie Mae and Freddie Mac.

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Latest News

  • Statement

    Statement of Director Sandra L. Thompson on Tenant Protections at Enterprise-Backed Multifamily Properties
    August 28, 2024

    Fannie Mae and Freddie Mac’s (the Enterprises) announcements today of new multifamily tenant protections mark an important milestone by increasing transparency and improving communication bet

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  • News Release

    U.S. House Prices Rise 5.7 Percent over the Last Year; Up 0.9 Percent from the First Quarter of 2024
    August 27, 2024
    U.S. house prices rose 5.7 percent between the second quarter of 2023 and the second quarter of 2024, according to the Federal Housing Finance Agency (FHFA) House Price Index (FHFA HPI®). House prices were up 0.9 percent compared to the first quarter of 2024. FHFA’s seasonally adjusted monthly index for June was down 0.1 percent from May.
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  • News Release

    FHFA Proposes 2025-2027 Housing Goals for Fannie Mae and Freddie Mac
    August 22, 2024
    The Federal Housing Finance Agency (FHFA) issued a proposed rule today that would establish the housing goals for 2025-2027 that Fannie Mae and Freddie Mac (the Enterprises) would be required to meet on an annual basis. FHFA is requesting comments on all aspects of the proposed rule during the 60-day public comment period.
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Spotlight Topics

  • Climate change image placeholder

    Climate Risk

    The purpose of FHFA's Climate Risk Committee is to ensure the Agency makes strategic and tactically sound decisions concerning the impacts of and response to the risks posed by climate change in a coordinated, collaborative, and informed manner in furtherance of FHFA’s mission.

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  • Suspension image placeholder

    ​Suspended Counterparty

    FHFA established the Suspended Counterparty Program to help address the risk to Fannie Mae, Freddie Mac, and the Federal Home Loan Banks presented by individuals and entities with a history of fraud or other financial misconduct. 

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Housing Market Indicators

MIRS Transition Index

MIRS Transition Index Release Dates Index Values
August 2024 6.94
July 2024 7.08
June 2024 6.87

MIRS transition index is intended to be used in lieu of the discontinued MIRS ARM Index for currently outstanding loans, and not as a reference rate on newly-originated adjustable-rate mortgages.  For further information, click here. 

House Prices

FHFA HPI-Source Quarterly Change 2024Q1-2024Q2 Four Quarter Change 2023Q2-2024Q2
"Purchase-Only" U.S. Index
(Seasonally Adjusted)		 0.9% 5.7%
"Expanded-Data" U.S. Index
(Seasonally Adjusted)		 1.1% 6.1%