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FHFA House Price Index

FHFA House Price Index Up 0.3 Percent in November; Up 4.2 Percent from Previous Year.

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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

  • News Release

    FHFA House Price Index Up 0.3 Percent in November; Up 4.2 Percent from Previous Year
    January 28, 2025
    U.S. house prices rose 0.3 percent in November, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI®). House prices rose 4.2 percent from November 2023 to November 2024. The previously reported 0.4 percent price growth in October was revised upward to 0.5 percent.
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  • News Release

    FHFA Announces Final Rule Expanding Access to Liquidity for the Federal Home Loan Bank System
    January 14, 2025
    The Federal Housing Finance Agency (FHFA) published a final rule today designed to improve access to liquidity for the Federal Home Loan Bank (FHLBank) System by adjusting the treatment of certain short-term FHLBank investments.
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  • News Release

    FHFA and U.S. Treasury Announce Amendments to the Preferred Stock Purchase Agreements (PSPAs)
    January 02, 2025
    The Federal Housing Finance Agency (FHFA) and the U.S. Department of the Treasury (Treasury) today announced amendments to the Preferred Stock Purchase Agreements (PSPAs). FHFA and Treasury have agreed to delete the provisions of the PSPAs that were suspended pursuant to their September 14, 2021 Letter Agreement and to make other modifications.
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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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    ​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 DatesIndex Values
January 20256.77
December 20246.31
November 20246.19

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 2024Q2-2024Q3 Four Quarter Change 2023Q3-2024Q3
"Purchase-Only" U.S. Index
(Seasonally Adjusted)		 0.7% 4.3%
"Expanded-Data" U.S. Index
(Seasonally Adjusted)		 0.9% 5.2%