Washington, D.C. – The Federal Housing Finance Agency (FHFA) sent to the Federal Register a Final Notice indicating its intent to use its existing "expanded-data" House Price Index (HPI) when setting the maximum conforming loan limits of Fannie Mae and Freddie Mac. A Notice and Request for Input on this matter was published in the Federal Register on May 27, 2015. As discussed in the Final Notice, public feedback received in response to the Notice and Request for Input was generally favorable to use of the "expanded-data" HPI.
The Housing and Economic Recovery Act of 2008 requires FHFA to "establish and maintain a method of assessing the national average 1-family house price for use in adjusting the conforming loan limitations." The "expanded-data" HPI is published on a quarterly basis and incorporates sales price information from Fannie Mae and Freddie Mac, as well as from the Federal Housing Administration and county recorder offices.
FHFA intends to release the maximum conforming loan limits for 2016 in late November, which is consistent with release timing in past years. The expanded-data HPI will be used in setting the 2016 limits.
Media: Corinne Russell (202) 649-3032 / Stefanie Johnson (202) 649-3030
Consumers: Consumer Communications or (202) 649-3811