FHFA Announces Two Measures to Advance Housing Affordability
The Federal Housing Finance Agency (FHFA) today announced two measures to sustainably advance the affordability of homeownership for mortgage borrowers across the nation, especially those in underserved communities.
First, over the coming months, Fannie Mae and Freddie Mac (the Enterprises) will expand certain eligibility requirements for their RefiNow and Refi Possible refinance programs aimed at assisting low-income borrowers. Additionally, the Enterprises will be incorporating desktop appraisals into their selling guides for new purchase loans.
When the Enterprises established their RefiNow and Refi Possible programs for low-income borrowers, area median income (AMI) requirements were limited to borrowers with current income at or below 80%. The announcement today expands the income threshold to include some moderate-income borrowers, with incomes at or below 100% percent of area median income. In addition, the Enterprises are modifying other requirements to address certain operational frictions for lenders.
Second, both Enterprises will incorporate desktop appraisals into their Selling Guides for many new purchase loans starting in early 2022. The use of desktop appraisals by the Enterprises was one of several temporary flexibilities initiated last year in response to the COVID-19 pandemic.
Latest from NAHBNow
Safety
Jun 05, 2026
NAHB Completes Fall Prevention Training Pilot Program at 20 HBAs Across U.S.NAHB, the Job-Site Safety Institute (JSI), and the National Housing Endowment (NHE) are proud to announce the successful completion of the Fall Prevention Training Pilot Program.
Economics
Jun 04, 2026
U.S. House Price Appreciation Slows from Rapid Pandemic-era PaceHigher mortgage rates, persistent affordability challenges and softer demand weighed on price growth nationally. Local market conditions varied, with some states and metro areas seeing solid gains while others saw declining or flattening house prices.
Latest Economic News
Economics
Jun 05, 2026
U.S. Labor Market Remains Resilient in MayDespite rising inflation and ongoing economic uncertainty, the U.S. labor market remained resilient in May. Nonfarm payrolls increased for the third consecutive month, and the unemployment rate held steady at 4.3%.
Economics
Jun 04, 2026
Mortgage Rates Increase Further as Inflation Remains ElevatedMortgage rates continued to increase in May as inflation accelerated. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.41% in May, up 7 basis points (bps) over April.
Economics
Jun 04, 2026
Highest Paid Occupations in Construction in 2025The median wage of payroll workers in construction was $61,370 in 2025, with the top 25% earning at least $83,480. In comparison, the U.S. median annual wage was $50,980, while workers in the top quartile (the highest paid 25%) earned at least $80,520.