Tag Archive for ‘mortgage finance’

Rates Tick Down in March

Following 4 consecutive monthly increases, results from the Mortgage Interest Rate Survey (MIRS) released by the Federal Housing Finance Agency (FHFA) indicate that mortgage rates fell in March 2017*. Over the month, contract rates on mortgages used to purchase single-family newly constructed homes declined by 6 basis points to 4.12 percent. Despite the decline, rates remain above the low of 3.54 percent in… Read More ›

USDA Single Family Programs: Trends in Loans for Newly Constructed Homes

A recent NAHB study tracks trends in loans for new construction obligated under the USDA Single-family programs, the Section 502 Direct Loan Program and the Section 502 Guaranteed Loan Program. The report finds that, similar to the Federal Housing Administration’s single-family loan program, the USDA programs supported homeownership at a time when obtaining a conventional loan became increasingly difficult. However,… Read More ›

Leverage Ratios Rise in 2016

Information provided by the Federal Housing Finance Agency (FHFA) indicates that the loan amount relative to the purchase price of the home, leverage or the loan-to-value (LTV) ratio, rose in 2016 to 79.2 percent, 140 basis points above the rate in 2015, 77.8 percent*/**. The increase over 2016 largely reflected growth in the LTV ratio on purchases of previously occupied… Read More ›

Mortgage Rates Rise in February

Results from the Mortgage Interest Rate Survey (MIRS) administered by the Federal Housing Finance Agency (FHFA) indicate that mortgage rates rose in February 2017*. Over the month, contract rates on mortgages used to purchase single-family newly constructed homes increased by 16 basis points to 4.18 percent. Since reaching a low of 3.54 percent in October 2016, contract rates reported by the… Read More ›

Home Equity Reaches A New Peak

According to the Federal Reserve Board’s fourth quarter of 2016 release of its Financial Accounts of the United States report, household holdings of real estate, measured on a not seasonally adjusted basis, totaled $23.102 trillion in the fourth quarter of 2016, $1.535 trillion higher than its level in the fourth quarter of 2015. Home mortgage debt outstanding, $9.754 trillion in… Read More ›

Mortgage Rates in January

Results from a survey administered by the Federal Housing Finance Agency (FHFA) indicate that mortgage rates rose in January 2017*. Over the month, contract rates on mortgages used to purchase single-family newly constructed homes increased by 24 basis points to 4.02 percent. Although the monthly change reported by FHFA contrasted with a report by Freddie Mac, the results of the… Read More ›

Serious Delinquency Rates Tick Up

Serious delinquency rates on 1-4 family mortgages rose over the 4th quarter of 2016 from the previous quarter. According to the National Delinquency Survey (NDS) released by the Mortgage Bankers’ Association (MBA), the proportion of mortgages seriously delinquent, those that are 90 or more days delinquent or starting the foreclosure process, rose 17 basis points to 3.13 percent. Despite the… Read More ›

Mortgage Originations Grow in Q4

According to the Federal Reserve Bank of New York’s Household Debt and Credit Report, mortgage originations grew in the 4th quarter of 2016. Largely resulting from 4th quarter growth, origination volume in 2016 exceeded its level in 2015. This marks the second consecutive year of growth in originations. As the chart above illustrates, there was approximately $617 billion in originations… Read More ›

Mortgage Rates Rising

Information released by the Federal Housing Finance Agency, (FHFA) indicates that mortgage rates on purchases of newly built homes continued to increase in December 2016. After rising by 5 bps in November, contract mortgage rates increased by an additional 19 basis points in December. As of the end of 2016, the contract rate sits at 3.78 percent. The December rate… Read More ›

Mortgage Rates Climb

The Mortgage Interest Rate Survey (MIRS) conducted monthly by the Federal Housing Finance Agency (FHFA) reported that contract mortgage rates rose in November 2016. Over the month, rates on all loans increased from 3.60 percent to 3.64 percent. Contract rates on both purchases of newly built homes and purchases of existing homes climbed during the month. Rates on purchases of… Read More ›