The Federal Housing Finance Agency (FHFA) has issued a final rule setting new benchmarks for housing goals for Fannie Mae and Freddie Mac from 2025 to 2027. These goals focus on increasing mortgage purchases that support low-income and very low-income families, as well as households in minority and low-income census tracts. The rule establishes specific levels that the organizations must try to meet or exceed in their purchase of single-family and multifamily mortgages. The FHFA will also apply "measurement buffers" to assess whether housing plans should be required for single-family goals, based on actual market performance versus benchmark levels.
Simple Explanation
The Federal Housing Finance Agency has set new rules for 2025 to 2027, asking Fannie Mae and Freddie Mac to help more families with low income buy homes by purchasing more of their mortgages. These rules are like goals they must try to reach to help more people find places to live.