HUD revises regulations for the FHA Appraiser Roster

🎇 And with that, the 2026 season begins…. Today’s newsletter is 558 words, a 2.5-minute read.

1. Mortgage rates hit a 2025 low heading into 2026

Mortgage rates ended 2025 on a gentler note, offering homebuyers a sliver of relief after another year of elevated borrowing costs.

Freddie Mac reported that the average 30-year fixed-rate mortgage fell to 6.15% last week, down slightly from 6.18% the prior week. One year earlier, the same benchmark averaged 6.91%.

The shorter-term 15-year fixed rate also moved lower, averaging 5.44%, down from 5.50% a week earlier, and remaining well below the 6.13% level seen a year ago.

2. FHFA sets 2026-2028 housing goals for GSEs

The Federal Housing Finance Agency (FHFA) has published a final rule establishing the Enterprise Housing Goals for Fannie Mae and Freddie Mac (GSEs) for the 2026–2028 performance period under the Federal Housing Enterprises Financial Safety and Soundness Act of 1992.

These goals measure how well the GSEs’ mortgage purchases support affordable housing for low‑ and moderate‑income families while maintaining safety and soundness.

FHFA sets separate benchmarks for single-family and multifamily mortgages, including purchase and refinance activity for specific income categories.

The final rule becomes effective February 23, 2026.

3. More Nuggets

🏠 Study: Borrowers who use Zillow Home Loans pay more. (NMP)

🚀 AD Mortgage rolls out AD Power Jumbo, unifying its jumbo lineup into a single program. (ADMortgage)

📈 Pending home sales surge to nearly a 3-year high. (NAR)

👔 Better Home & Finance names Barry Feierstein as COO. (Better)

4. HUD revises regulations for the FHA Appraiser Roster

The Department of Housing and Urban Development (HUD) issued new guidance clarifying how appraisers are added to, maintained on, and removed from the FHA Appraiser Roster.

Mortgagee Letter 2025-24, effective immediately, updates FHA policy to make appraiser eligibility easier to track and more consistent with federal and state licensing records.

The changes apply to all FHA-insured single-family forward and reverse mortgages.

HUD said the updates aim to keep the roster accurate and reliable as market conditions and licensing statuses change.

5. Saving for a down payment now takes 7 years

It now takes the typical household seven years to save for a down payment, roughly double the pre-pandemic norm, according to a new Realtor.com analysis.

That timeline is down from a peak of 12 years in 2022 but still far longer than what most buyers were used to before the pandemic.

In Q3 2025, the typical buyer paid $30,400 for a down payment, more than double the $13,900 paid during the same period in 2019. The analysis assumes households save 5.1% of their income toward a down payment, in line with the average personal savings rate through September 2025.

☀️ You’re all caught up. See you on Wednesday!

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