The Federal Housing Finance Agency (FHFA) announced that the Housing Trust Fund and Capital Magnet Fund will receive approximately $301 million for affordable housing initiatives from Fannie Mae and Freddie Mac (the Enterprises). The Housing Trust Fund will receive $196 million, and the Capital Magnet Fund will receive $105 million. The allocations are down significantly from last year’s allocation of $545 million and the previous year’s allocations exceeded $1 billion. The funding amounts are allocated based on new business purchases by the Enterprises. Market conditions, such as high-interest rates, reduced the overall purchases the Enterprises’ made in 2023.