According to the housing property rights plan index (HP) released by the down payment resources company (DPR), a professional financial institution, the number of institutions participating in the housing support plan increased by 55 compared with the same period last year. In that quarter, 43 new assistance programs were added to the market, and the available project resources of the whole industry were expanded to 2509.
After credit institutions used the down payment support policy (DPA), the loan value ratio of home buyers was reduced by an average of 6 percentage points. The average value of a single aid reached 18000 US dollars, effectively alleviating the pressure on residents to buy homes. Rob crane, chief executive of DPR, pointed out: "although the benchmark interest rate remains high and house prices continue to rise, the innovative application of policy tools is broadening market channels.". The new scheme not only covers the down payment support, but also extends to diversified scenarios such as settlement cost subsidies and interest rate discounts.
According to Freddie Mac's benchmark interest rate monitoring system, as of mid-April 2025, the weighted average interest rate of 30-year fixed rate mortgages rose to 6.83%, up 21 basis points week on week. Vertical comparison shows that the index shows a marginal improvement from the historical high of 7.1% in the same period last year.
Core policy observations (based on 2509 current plans)
1. Project increment and structural evolution
43 new aid programs were added in the quarter, an increase of 2% annually. Among the stock projects, 38% (952) opened secondary application channels, 10% (240) cancelled the income access threshold, and significantly expanded the coverage of beneficiary groups. There were 29 new special support plans for the first group, an increase of 16% annually.
2. Trend of policy tool innovation
Nontraditional aid programs achieved a 35% quarterly increase, with price limited resale programs (BMR) increasing by 18% and special subsidy programs increasing by 7%. The BMR mechanism ensures long-term benefits for low-income and middle-income families by setting house price caps and transaction restrictions.
3. Deepening the debt mitigation mechanism
The proportion of deferred repayment plans exceeded 80%, an increase of 3 percentage points annually. Such plans allow borrowers to suspend repayment of loans before property rights change or loan maturity, and 53% of the DPA plan in the quarter has an exemption clause, requiring beneficiaries to maintain their main ownership attributes to obtain some or all debt relief.
4. Distribution characteristics of supply subjects
Local housing financial institutions (Has) maintained a 39% market share (990), the proportion of nonprofit institutions rose to 21% (+2% annually), and state FHA projects were fine-tuned to 18%. Prefabricated housing support programs grew 6 percent to 971, and cost 47 percent less per square foot than traditional homes ($87 per square foot vs $166).
5. Progress of targeted support policies
There were 833 multifamily housing support plans (+3% annually), of which the special plans for three and four families were expanded to 562 and 536 respectively. Special group assistance programs showed differentiated growth: the special fund for military survivors increased by 18%, the green building incentive program increased by 17%, and targeted programs such as educators (69 items), security practitioners (56 items), veterans and indigenous people (50 items each) maintained a stable supply.
This index systematically tracks the dynamic changes of housing security tools such as down payment subsidies, settlement cost support and mortgage credit certificates (MCC) by monitoring more than 1300 policy enforcement agencies in the United States. The research team adopts a quarterly update mechanism to continuously improve the construction of a housing property rights support policy database to provide decision-making reference for market participants.
