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2024Q1 UAD Aggregate Statistics: Volume and Median Appraised Value for Both Purchase and Refinance Appraisals Rose over the Past Year and Quarter
The number of U.S. home appraisals increased both between the first quarters of 2023 and 2024 and the fourth quarter of 2023 and the first quarter of 2024. The median appraised value for both purchase and refinance appraisals also increased between the same periods. The Federal Housing Finance...
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Opening New Doors: Overcoming Obstacles to Attain Affordable Homeownership
In today’s housing market, aspiring homeowners confront a challenging landscape. Home prices are high, mortgage rates have risen sharply in the past few years, and there is a significant housing supply shortage, often making it difficult to even find a home to purchase. At the Federal Housing...
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Measuring Price Effects from Disasters Using Public Data: A Case Study of Hurricane Ian
What happens to home values after a disaster? In a recent working paper, we address this question with a combination of readily available public data sources that track insurance claims and house prices. Focusing on a specific storm, Hurricane Ian, we use leading statistical estimation approaches...
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Mortgage Debt and the Response to Fiscal Transfers
Lump-sum cash transfers are occasionally used by policymakers with the goal of temporarily increasing household consumption. These policies will be ineffective if the transfer is used to save or pay off debts instead of purchasing goods. Because of this, macroeconomic policies are usually evaluated...
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Lessons Learned from Assessing Exposure to Climate-Related Risks
Climate Scenario Analysis is a tool for assessing exposure to climate-related risks under different future climate conditions. Preliminary analysis highlights the importance of resolving data and methodology gaps to enhance confidence in the results. It also reveals the sensitivity of results to...
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Progress in Addressing Climate-related Disclosure Standards
In alignment with guidance provided by FHFA, Fannie Mae and Freddie Mac issued annual voluntary reports, starting with the 2020 reporting year, detailing their sustainability strategies, activities, and metrics. The Federal Home Loan Banks released an inaugural Corporate Social Responsibility...
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Incorporating Climate-Related Risks into Governance
Following FHFA’s Conservatorship Scorecard guidance, Fannie Mae and Freddie Mac have made progress on developing foundational climate risk frameworks, integrating climate risk considerations into their strategic planning, incorporating climate risk considerations into their management and board...
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Does residential location affect applications to top public schools?
Are students willing to endure long commutes for access to good schools? Little is known about how much families are willing to let students travel between home and school, especially if they have an opportunity to attend one of the best public schools. In a FHFA working paper, we show that...
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2023Q4 UAD Aggregate Statistics: The Median Appraised Value for Both Purchase and Refinance Appraisals Increased from a Year Ago
The number of U.S. home appraisals declined between the fourth quarters of 2022 and 2023 as well as between the third and fourth quarters of 2023. For purchase appraisals, the median appraised value increased from the fourth quarter of 2022 to the year-later period while decreasing slightly...
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Fannie Mae and Freddie Mac Support for Manufactured Housing
This blog discusses Fannie Mae and Freddie Mac acquisitions of mortgages secured by real estate titled manufactured homes, with a particular focus on the period since the introduction of the Duty to Serve program in 2018. Manufactured housing is one of the identified Duty to Serve underserved...