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House prices fell nationwide in July, down 0.6 percent from the previous month, according to the latest Federal Housing Finance Agency House Price Index (FHFA HPI®). House prices rose 13.9 percent from July 2021 to July 2022. The previously reported 0.1 percent price increase in June 2022 remained unchanged.
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. This report addresses the FHLBanks’ activities to support low-income housing and community development.
The Enterprises' Foreclosure Prevention Actions:
U.S. house prices rose 17.7 percent from the second quarter of 2021 to the second quarter of 2022 according to the Federal Housing Finance Agency House Price Index (FHFA HPI®). House prices were up 4.0 percent compared to the first quarter of 2022. FHFA’s seasonally adjusted monthly index for June was up 0.1 percent from May.
Tables and graphs showing home price statistics for metropolitan areas, states, census divisions, and the U.S. are included in the attachment.
The Enterprises' Foreclosure Prevention Actions:
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) and to submit a report to Congress each year. HERA requires an analysis of the average guarantee fee and a breakdown by product type, risk class, and volume of a lender's business. The report also must analyze the costs of providing the guarantee and provide a comparison to the prior year. FHFA issued the first such report in 2009.
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.
U.S. house prices rose in May, up 0.2 percent on a seasonally adjusted basis from the previous month, according to the Federal Housing Finance Agency (FHFA) monthly House Price Index (HPI). From May 2015 to May 2016, house prices were up 5.6 percent.For the nine census divisions, seasonally adjusted monthly price changes from April 2016 to May 2016 ranged from -1.3percent in the New England division to +1.2 percent in the Mountain division. The 12-month changes were all positive, ranging from +3.4 percent in the Middle Atlantic division to +8.5 percent in the Mountain division.
Total refinance volume increased in May 2016 as rates remained below the levels observed at the end of 2015. Mortgage rates decreased in May: the average interest rate on a 30‐year fixed rate mortgage fell to 3.60 percent from 3.61 percent in April.
In May 2016:
