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
Jun 16, 2025
Practical Strategies for Aging-in-Place RemodelsSeventy-three percent of industry leaders say that requests for aging-in-place (AIP) features have increased in the last five years, and 56% of remodelers are involved in home modification work relating to AIP, according to the NAHB/Westlake Royal Remodeling Market Index. Learn more about AIP practices on July 10 during NAHB's AIP Shop Talk.
Jun 16, 2025
Permit Activity Declines for Fourth Consecutive MonthHousing permits continued a downhill trend for the fourth month in a row, pointing to a broader residential construction slowdown for 2025. Single-family permits were down in three out of four regions, while multifamily permits were up in three out of four regions. See the 10 largest markets for single-family and multifamily activity.
Latest Economic News
Jun 16, 2025
Permit Activity Weakens in April 2025Housing permits continued a downhill trend for the fourth month in a row, pointing to a broader residential construction slowdown for 2025. Over the first four months of 2025, the total number of single-family permits issued year-to-date (YTD) nationwide reached 320,259.
Jun 13, 2025
Household Real Estate Asset Value Falls to Start the YearThe market value of household real estate assets fell from $48.1 trillion to $47.9 trillion in the first quarter of 2025, according to the most recent release of U.S. Federal Reserve Z.1 Financial Accounts. The value of household real estate assets declined for three consecutive quarters after peaking at $48.8 trillion in the second quarter of 2024 but remains 2.1% higher over the year.
Jun 12, 2025
Producer Prices Rise in May: New Construction Input AnalysisPrices for inputs to new residential construction—excluding capital investment, labor, and imports—rose 0.2% in May, following a (revised) decrease of 0.2% in April. These figures are taken from the most recent Producer Price Index (PPI) report published by U.S. Bureau of Labor Statistics.