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Fannie Mae (FNMA) serves as a pivotal player in the U.S. housing finance sector, facilitating affordable homeownership and rental options for millions of Americans. As a leading source of mortgage financing, Fannie Mae partners with lenders to offer sustainable home loans and rental housing. The company’s efforts ensure the availability of the 30-year fixed-rate mortgage, providing homeowners with stable and predictable payments over the life of the loan.
Fannie Mae's core mission is to advance equitable and sustainable access to quality housing. The company's recent highlights include the sale of non-performing loans aimed at reducing retained mortgage portfolios and community impact initiatives like the Community Impact Pool (CIP). These initiatives are designed to benefit non-profit organizations, minority- and women-owned businesses, and smaller investors.
Fannie Mae actively engages in reperforming loan sales and continues to drive innovation in homebuying and renting solutions. The company's latest Home Price Index (FNM-HPI) reported a 7.4% year-over-year increase in Q1 2024, reflecting the ongoing demand and supply dynamics in the housing market. Fannie Mae's economic forecasts suggest a modest rise in home sales for 2024, despite higher mortgage rates.
The company also launched fixed-price cash tender offers for Connecticut Avenue Securities® Notes, demonstrating its proactive approach to financial management. Fannie Mae is committed to maintaining transparency with stakeholders, regularly updating its financial results and hosting informative conference calls.
Fannie Mae’s economic and strategic research group, recognized for its forecasting accuracy, continuously analyzes market trends to inform stakeholders and guide the company's strategic direction. Through responsible innovation and dedicated partnerships, Fannie Mae remains at the forefront of transforming the U.S. housing finance system.
Fannie Mae (FNMA) provided over $55 billion in multifamily financing during 2024, maintaining strong market support across various housing segments. Key achievements include: $6.3 billion in Multifamily Affordable Housing, $4.7 billion in Small Loans, $1.3 billion in Manufactured Housing, and $6.6 billion in Structured Transactions.
Notable highlights include a 101% year-over-year increase in Green Financing loan production, reaching $15.1 billion in 2024, up from $7.5 billion in 2023. Forward commitments grew significantly to $1.2 billion in 2024, compared to $326 million in 2023. The company has invested approximately $4 billion in Low-Income Housing Tax Credit (LIHTC) investments since 2018.
Walker & Dunlop led the top producers list with $7.04 billion in volume, followed by Berkadia Commercial Mortgage with $6.25 billion and CBRE Multifamily Capital with $6.17 billion.
Fannie Mae's Economic and Strategic Research (ESR) Group forecasts continued housing market challenges in their January 2025 commentary. Due to rising 10-year Treasury yields and increased mortgage rates, existing home sales are expected to remain near their lowest levels since 1995. The ESR Group has revised their mortgage rate projections upward to 6.5% for 2025 and 6.3% for 2026.
Home price appreciation is forecast to decelerate to 3.5% in 2025, down from 5.8% in 2024, with significant regional variations based on construction activity and housing supply. The group predicts real GDP growth of 2.2% for 2025, following an estimated 2.5% in 2024.
While the labor market shows resilience, affordability challenges persist due to high mortgage rates. A positive note is that income growth is expected to outpace both home and rent price increases, and new homes are becoming competitively priced with existing homes in many markets.
Fannie Mae's Home Price Index (FNM-HPI) shows single-family home prices increased 5.8% year-over-year in Q4 2024, accelerating from Q3's revised 5.4% growth. Quarterly prices rose 1.7% seasonally adjusted, up from Q3's 1.2%, while non-seasonally adjusted prices increased 0.3%.
The housing market faces challenges with historically low inventories due to the 'lock-in effect.' Mortgage rates, after reaching around 6.1%, are approaching 7%, further reducing homeowners' motivation to move. According to Fannie Mae's Chief Economist Mark Palim, 2025's housing market faces a complex situation where lower mortgage rates are needed to increase housing supply, but this could simultaneously boost demand from first-time homebuyers, potentially driving prices even higher.
Fannie Mae (FNMA) has announced disaster relief options for those affected by Southern California wildfires. The company offers mortgage assistance and disaster recovery support for impacted homeowners and renters. Key provisions include:
- Ability to reduce or suspend mortgage payments for up to 12 months through forbearance plans, with no late fees and suspended foreclosure proceedings
- Automatic 90-day forbearance authorization for servicers when homeowner contact cannot be established
- Post-forbearance options including Disaster Payment Deferral and Fannie Mae Flex Modification
- Free disaster recovery counseling services through HUD-approved counselors
The company provides support through their disaster recovery hotline (855-437-3243) and website resources. Counseling services include personalized recovery planning, assistance with FEMA claims, and ongoing guidance for up to 18 months.
Fannie Mae's Home Purchase Sentiment Index (HPSI) decreased 1.9 points to 73.1 in December 2024, yet remained 5.9 points higher than the previous year, primarily driven by mortgage rate optimism. 42% of consumers expect mortgage rates to decline over the next 12 months, down from 45% in November but significantly higher than December 2023's 31%.
The percentage of respondents viewing it as a good time to buy a home slightly decreased from 23% to 22%, while those considering it a good time to sell declined from 64% to 63%. Home price expectations remained stable, with 38% expecting prices to increase. The survey also showed 77% of employed respondents were not concerned about job loss, down from 78%, while household income sentiment improved slightly.
Fannie Mae's Chief Economist suggests that despite current market challenges, improved affordability conditions are expected in 2025 through modest mortgage rate declines, slower home price growth, and higher wages.
Fannie Mae (OTCQB: FNMA) has released its November 2024 Monthly Summary. The report provides comprehensive information about the company's monthly and year-to-date performance metrics, including details on their gross mortgage portfolio, mortgage-backed securities, other guarantees, interest rate risk measures, and serious delinquency rates.
Fannie Mae (FNMA) has released its 2025 Connecticut Avenue Securities® (CAS) Issuance Calendar, projecting approximately $4 billion in total CAS volume across 5-7 transactions. The company plans to launch CAS 2025-R01, a low-LTV transaction, in mid-to-late January 2025. The execution of these issuances will depend on market conditions and other factors.
Since 2013, Fannie Mae has transferred credit risk on single-family mortgages with an unpaid principal balance of about $3.2 trillion through various Credit Risk Transfer (CRT) efforts, including CAS, Credit Insurance Risk Transfer™ (CIRT™), and other risk transfer methods.
Fannie Mae's Economic and Strategic Research Group predicts challenging housing market conditions for 2025, with existing home sales expected to remain near 30-year lows. The forecast indicates mortgage rates will stay above 6% despite modest declines, with potential volatility creating temporary opportunities for homebuyers.
Key predictions include: deceleration in national home price growth, continued strength in new home construction where possible, and regional variations in market performance, with stronger activity expected in the Sun Belt region compared to supply-constrained areas like the Northeast. Notably, 2025 may see nominal wage growth outpacing home price growth for the first time in over a decade, potentially offering some relief to prospective homebuyers.
The Fannie Mae Home Purchase Sentiment Index® (HPSI) rose 0.4 points to 75.0 in November, marking a 10.7-point increase year over year. A record number of consumers expect mortgage rates to decline over the next 12 months, with 45% anticipating a decrease. The share of respondents viewing it as a 'good time to buy' increased to 23%, up from 14% last year.
The percentage saying it's a 'good time to sell' remained stable at 64%. Home price expectations showed slight changes, with 38% expecting prices to rise and 25% anticipating decreases. Consumer confidence appears to be improving as people adapt to the current high mortgage rate and home price environment, though these factors remain the primary concerns for potential buyers.
Housing experts have revised their home price growth forecasts upward, now expecting 5.2% growth in 2024, followed by deceleration to 3.8% in 2025 and 3.6% in 2026, according to Fannie Mae's Q4 2024 Home Price Expectations Survey. The panel anticipates sluggish existing home sales in 2025, with mortgage rates expected to moderately decline to 6.3%.
About 80% of respondents predict price growth deceleration, citing high mortgage rates, increasing inventory, and slower wage growth. A minority forecasts faster appreciation, pointing to strong first-time homebuyer demand and tight inventory. Despite expected deceleration, projected price increases through 2029 remain above anticipated economy-wide inflation, suggesting persistent affordability challenges.
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