Revised 7/27/2023

This Annual Housing Report describes the affordable housing activities of Fannie Mae and Freddie Mac in 2015. The Charter Acts that established Fannie Mae and Freddie Mac (the Enterprises) emphasize their important role in providing a stable source of housing finance that supports access to mortgage credit to low- and moderate-income families and in underserved areas.

The FHFA House Price Index (HPI) reported a 0.7 percent increase in August from the previous month. From August 2015 to August 2016, house prices were up 6.4 percent. For the nine census divisions, seasonally adjusted monthly price changes from July 2016 to August 2016 ranged from no change in the West North Central division to +1.2 percent in the New England division. The 12-month changes were all positive, ranging from +3.3 percent in the Middle Atlantic division to +7.9 percent in the Pacific division.

​The Office of Information Policy requires all agencies to provide quarterly reporting for four key FOIA statistics to the Department of Justice. This report is attended to identify trends and assess agencies' progress throughout the course of the fiscal year.

August 2016 Highlights

Total refinance volume increased in August 2016 as rates fell over the previous five months. Mortgage rates remained unchanged in August: the average interest rate on a 30-year fixes rate mortgage was 3.44 percent.

In August 2016:

July 2016 Highlights

The Enterprises' Foreclosure Prevention Actions:

• The Enterprises completed 15,547 foreclosure prevention actions in July 2016, bringing the total to 3,757,045 since the start of the conservatorships in September 2008. Over half of these actions have been permanent loan modifications.
• There were 10,587 permanent loan modifications in July, bringing the total to 1,973,186 since the conservatorships began in September 2008.
• The share of modifications with principal forbearance remained at 20 percent.

​FHFA is required to monitor and report annually on the Federal Home Loan Banks' support of their low-income housing and community development activities to the Federal Home Loan Banks' Advisory Councils. This report fulfills that requirement.

The Fiscal Year (FY) 2017 Annual Performance Plan (APP) supports the FHFA Strategic Plan: Fiscal Years 2015–2019 (Strategic Plan).

Second Quarter 2016 Highlights

The Enterprises' Foreclosure Prevention Actions:

• The Enterprises completed 48,438 foreclosure prevention actions in the second quarter of 2016, bringing the total to 3,741,498 since the start of conservatorships in September 2008. Of these actions, 3,087,014 have helped troubled homeowners stay in their homes including 1,962,599 permanent loan modifications.
• The share of modifications with principal forbearance remained at 19 percent.

The FHFA House Price Index reported a 0.5 percent increase in U.S. house prices in July from the previous month. From July 2015 to July 2016, house prices were up 5.8 percent. For the nine census divisions, seasonally adjusted monthly price changes from June 2016 to July 2016 ranged from +0.2 percent in the Middle Atlantic division to +1.0 percent in the East South Central division. The 12-month changes were all also positive, ranging from +2.6 percent in the Middle Atlantic division to +7.7 percent in the Pacific division.