Summary
The Federal Housing Finance Agency (FHFA) set new housing goals for Fannie Mae and Freddie Mac from 2026 to 2028. The changes include lowering the targets for lending to low-income borrowers for single-family homes. The aim is to align with current market conditions, but some people are concerned this could affect credit access for lower-income Americans.
Key Facts
- The FHFA announced new housing targets for 2026-2028 for Fannie Mae and Freddie Mac.
- The new rule lowers benchmarks for single-family home loans for low-income borrowers.
- For borrowers earning up to 80% of the area's median income, the target went from 25% to 21%.
- For those with incomes up to 50% of the median, the goal dropped from 6% to 3.5%.
- The rules for multifamily home loans did not change.
- The FHFA simplified its regulations by merging two subgoals into one for low-income areas.
- Some experts are worried these changes may limit credit access for low- and moderate-income families.
- Industry leaders have mixed reactions; some see it as a needed change given the current economic conditions.
