FHFA Proposes New Housing Goals for Fannie Mae, Freddie Mac

Housing Affordability
Published

The Federal Housing Finance Agency (FHFA) has proposed its housing goals for Fannie Mae and Freddie Mac for 2022 to 2024.

This year, FHFA is proposing two new single-family home purchase subgoals to replace the existing low-income areas subgoal.

One new subgoal targets minority communities; the other continues to target low-income neighborhoods.

The new minority census tract subgoal is designed to improve access to fair and sustainable mortgage financing in communities of color. A mortgage qualifies under the new subgoal if:

  • the borrower has an income at or below area median income (AMI); and
  • the property is in a census tract where the median income is at or below AMI and minorities make up at least 30% of the population.

“The new subgoal for minority census tracts was designed to help preserve and support affordable housing in communities of color,” said FHFA Acting Director Sandra Thompson. “The subgoal benefits families at or below area median income, allowing them to stay in the communities they helped build.”

Single-Family Housing Goals:

Current and Proposed Single-Family Goals
(percentage of overall qualified single-family purchases)
Single-Family Goals
Current Benchmark Level
2018-2021
Proposed Benchmark Level
2022-2024
Low-Income Home Purchase Goal 24% 28%
Very Low-Income Home Purchase Goal 6% 7%
Minority Census Tracts Home Purchase Subgoal (New)
10%
Low-Income Census Tracts Home Purchase Subgoal (New)
4%
Low-Income Refinance Goal 21% 26%
Multifamily Housing Goals:
Current and Proposed Multifamily Goals
(number of multifamily units)
Multifamily Goals
Current Level
2018-2021
Proposed Level
2022-2024
Low-Income Goal 315,000 415,000
Very Low-Income Subgoal 60,000 88,000
Small Multifamily (5-50 Units) Low-Income Subgoal 10,000 23,000

FHFA will be taking comments on the proposed rule for 60 days after it is published in the Federal Register and NAHB intends to weigh in.

Subscribe to NAHBNow

Log in or create account to subscribe to notifications of new posts.

Log in to subscribe

Latest from NAHBNow

Safety

Jul 01, 2025

Use NAHB Resources to Protect Workers from Heat and UV Exposure

As NAHB celebrates UV Safety Awareness Month in July, it is important for home builders and general contractors to educate workers about the potential risks associated with UV radiation, and have plans and resources in place to keep them safe on the jobsite.

Advocacy

Jul 01, 2025

Senate Passes Tax Bill With Many Wins for NAHB Members

The Senate today passed the One Big Beautiful Bill Act (H.R. 1) — sweeping tax and domestic policy legislation that includes several important housing and business provisions that will benefit small businesses, real estate and our members. Most notably, NAHB was able to secure key wins regarding state and local tax deductions for individuals and pass-through businesses.

View all

Latest Economic News

Economics

Jul 01, 2025

May Private Residential Construction Spending Dips

Private residential construction spending fell by 0.5% in May, marking the fifth straight month of decreases. This drop was primarily driven by reduced spending on single-family construction. Compared to a year ago, total spending was down 6.7%, as the housing sector continues to navigate the economic uncertainty stemming from ongoing tariff concerns and elevated mortgage rates.

Economics

Jul 01, 2025

Flat Job Openings for Construction

The count of open, unfilled positions in the construction industry held steady amid a slowdown for housing, per the May Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS).

Economics

Jun 30, 2025

2024 New Single-Family Starts by Census Division

Despite persistently high mortgage rates, elevated financing costs for builders, and a shortage of buildable lots, single-family starts rebounded in 2024, following two straight years of declines.