U.S. house prices rose 12.4 percent from the third quarter of 2021 to the third quarter of 2022 according to the Federal Housing Finance Agency House Price Index (FHFA HPI®). House prices were up 0.1 percent compared to the second quarter of 2022.  FHFA’s seasonally adjusted monthly index for September​ was up 0.1 percent from August.

Tables and graphs showing home price statistics for metropolitan areas, states, census divisions, and the U.S. are included  in the attachment. 

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​​​Section 1601 of the Housing and Economic Recovery Act of 2008 (HERA) requires the Federal Housing Finance Agency (FHFA) to conduct an ongoing study of the guarantee fees charged by Fannie Mae and Freddie Mac (the Enterprises) for guaranteeing a mortgage. HERA further requires that FHFA annually submit a report to Congress on the results of its guarantee-fee study.1 HERA requires the report to contain an analysis of the average guarantee fee and a breakdown by product type, risk class, and seller size.

This report details FHFA’s activities as regulator of the Federal Home Loan Bank System and as regulator and conservator of Fannie Mae and Freddie Mac during fiscal year 2022.

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August 2022 Highlights - Foreclosure Prevention

The Enterprises' Foreclosure Prevention Actions:​

​​​​Fannie Mae and Freddie Mac began issuing the Uniform Mortgage-Backed Securities (UMBS) on June 3, 2019.

This quarterly report provides market participants additional transparency into a sample of the data FHFA receives and reviews on a monthly basis. The report focuses on alignment of prepayment rates, which continues to be important to the success of UMBS and to the efficiency and liquidity of the secondary mortgage market.

Background

• This report provides updated information on possible ranges of future financial results of Fannie Mae and Freddie Mac (the "Enterprises") under severely adverse conditions. The severely adverse conditions assumed were identical for both Enterprises.
• The Enterprises are required to conduct stress tests per FHFA rule 12 CFR § 1238, which implements section 165(i)(2) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act").

This Annual Housing Report​ (Report) describes the affordable housing activities of the Enterprises during 2021 and meets the reporting requirements of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended (Safety and Soundness Act). The Report describes FHFA's final review of the Enterprises' 2021 housing goals performance and contains the results of FHFA's evaluations and ratings of the Enterprises' 2021 Duty to Serve performance.

House prices fell nationwide in August, down 0.7 percent from the previous month, according to the latest Federal Housing Finance Agency House Price Index (FHFA HPI®). House prices rose 11.9 percent from August 2021 to August 2022. The previously reported 0.6 percent price decline in July 2022 remained unchanged.

The Fiscal Year (FY) 2023 Annual Performance Plan (APP) supports the FH

​July 2022 Highlights - Foreclosure Prevention

The Enterprises' Foreclosure Prevention Actions:​