FHFA Releases 2021 Housing Goals For Fannie, Freddie

ByTMN Editor Reading Time: 2 minutes

The Federal Finance Housing Agency on Monday announced 2021 housing goals for Fannie Mae and Freddie Mac that are identical to the mortgage purchase goals that were in place for the last three years.

“Due to the economic uncertainty related to the COVID-19 national pandemic, FHFA is proposing benchmarks for calendar year 2021 only, and those levels will remain the same as they were for 2018-2020,” FHFA said in announcing the goals.

Here are the single-family goals for 2021:

GoalCurrent 2018-2020 benchmark Proposed 2021 benchmark
Low-Income Home Purchase Goal24 percent24 percent
Very Low-Income Home Purchase Goal6 percent6 percent
Low-Income Areas Home Purchase Subgoal14 percent14 percent
Low-Income Refinancing Goal21 percent21 percent

Here are the multi-family goals for 2021:

GoalCurrent 2018-2020 benchmark Proposed 2021 benchmark
Low-Income Goal315,000 units315,000 units
Very Low-Income Subgoal60,000 units60,000 units
Low-Income Small Multifamily Subgoal10,000 units10,000 units

Earlier this year, Fannie Mae and Freddie Mac announced they met and exceeded all goals for 2019, as shown in the following charts, meaning the goals for 2021 are in some cases far below what they achieved in 2019. The numbers for 2020 – which will undoubtedly be impacted by the coronavirus pandemic – will be released next year.

Here are Fannie’s results:

Here are Freddie’s results:

See Fannie and Freddie’s full year reports for 2019 here and here.