Effective Rate on New Home Loans Continues to Drop

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Interest rates on conventional mortgages for newly built homes fell again in August 2016 according to data released by the Federal Housing Finance Agency (FHFHA), extending the decline to 7 consecutive months. The FHFA data show that the average contract rate on the loans fell from 3.64% to 3.60%, while initial fees and charges went from 1.11% to 1.09%. As… Read More ›

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