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FHFA House Price Index

U.S. house prices rose 0.7 percent in September; and rose 4.3 percent from Q3 2023 to Q3 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

  • News Release

    FHFA Announces Conforming Loan Limit Values for 2025
    November 26, 2024
    The Federal Housing Finance Agency (FHFA) today announced the conforming loan limit values (CLLs) for mortgages acquired by Fannie Mae and Freddie Mac (the Enterprises) in 2025.  In most of the United States, the 2025 CLL value for one-unit properties will be $806,500, an increase of $39,950 (or 5.2 percent) from 2024. 
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  • News Release

    U.S. House Prices Rise 4.3 Percent over the Prior Year; Up 0.7 Percent from the Second Quarter of 2024
    November 26, 2024
    U.S. house prices rose 4.3 percent between the third quarter of 2023 and the third quarter of 2024, according to the Federal Housing Finance Agency (FHFA) House Price Index (FHFA HPI®). House prices were up 0.7 percent compared to the second quarter of 2024. FHFA’s seasonally adjusted monthly index for September was up 0.7 percent from August.
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  • News Release

    FHFA Unveils Enterprises’ Three-Year Plans to Improve Housing Opportunities for the Underserved
    November 25, 2024
    Fannie Mae and Freddie Mac (the Enterprises) will seek to extend housing access in rural underserved markets, enhance their support for manufactured housing, and continue addressing liquidity needs for first-time homebuyers, among a host of activities outlined in plans published today by the Federal Housing Finance Agency (FHFA).
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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 Dates Index Values
October 2024 6.48
September 2024 6.88
August 2024 6.94

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%