Eye On Housing
The Mortgage Bankers Association’s Weekly Application Survey, for the week ending November 8, 2019, showed a 5% increase in its Purchase Index and 13% increase in its Refinance Index from a week earlier on a seasonally adjusted basis. This increase occurred despite the slight increase in the 30-year fixed mortgage rate to 4.03%, thus reflecting growing optimism concerning the economy… Read More ›
The latest data from the Mortgage Bankers Association’s Weekly Application Survey show a strong reaction to the market among prospective homebuyers and those wishing to refinance their existing home loans. There are two main factors: The Federal Reserve’s cutting of interest rates and the ongoing trade war with China. The 30-year fixed-rate mortgage dropped by 15 basis points from the previous… Read More ›
NAHB analysis of the most recent Census estimates concerning sources of financing for new home sales reveals that the share of mortgages financed through conventional, FHA, and VA loans, as well as cash, held steady in the second quarter of 2016 while the number of new homes sold grew by 22%. According to data from the Census Bureau’s Quarterly Sales by Price… Read More ›
As of 2012, FHA/VA insured loans still account for well over 20 percent of the market for new single-family homes, according to data from the Survey of Construction (SOC). The SOC is conducted by the Census Bureau, partly funded by HUD, and the source of the familiar monthly series on housing starts. Among other things, the SOC collects information on… Read More ›