Tag Archive for ‘home mortgage’

Mortgage Rates Flatten in July

The Federal Housing Finance Agency reported that mortgage rates on purchases of newly built homes (MIRS) rose by one basis points over the month of July 2018 to 4.60 percent, marking the ninth consecutive monthly increase. The FHFA contract rate for Newly-built homes, also inched up 3 basis points to 4.62 percent in July. However, information compiled by Freddie Mac… Read More ›

Younger Households More Likely to Have Auto Loans than Mortgages

Homeownership provides a distinct advantage for wealth accumulation. Although many households desire to purchase a home, the share of households living in owner-occupied housing remains low, following a steep decline associated with the Great Recession. Younger households, those under the age of 35, experienced the biggest declines in homeownership, although recent evidence suggests that the homeownership rate among these households… Read More ›

Homeownership is Key to Household Wealth

According to the 2016 Survey of Consumer Finances (SCF), nationally, the primary residence represents the largest asset category on the balance sheets of households in 2016 (as shown in Figure 1 below). At $24.2 trillion, the primary residence accounted for about one quarter of all assets held by households in 2016, surpassing other financial assets1 (20%), business interests (20%) and… Read More ›