Tag Archive for ‘mortgages’

In 6 Months, Mortgage Standards Cost Builders 18,000 Sales

In an August survey asking single-family builders to describe mortgage lending standards in the areas where they build, well over half indicated that standards were tight or very tight.  Only 11 percent indicated that lending standards were somewhat easy and none described them as very easy. The survey took the form of special questions appended to the monthly instrument used… Read More ›

Interest Rates Stay Flat on Loans for New Homes

Today, the Federal Housing Finance Agency (FHFA) reported that interest rates on home mortgages remained essentially the same in August. The same was true for the subset of mortgages used to purchase new homes. On conventional mortgages for new homes, the changes in August were both very small and offsetting. While the average contract interest rate increased by a single… Read More ›

Interest Rates Little Changed on New Home Loans

On August 28, the Federal Housing Finance Agency (FHFA) reported that, overall, mortgage interest rates were flat in July. To a large extent, the same was true for the subset of loans used to purchase new homes. Between June and July, the average contract interest rate on conventional mortgages for new homes ticked down, but only from 4.14 to 4.12…. Read More ›

Mortgage Delinquency Rates Continue to Improve

Data released by the Mortgage Bankers Association (MBA) indicates that the delinquency rate for mortgage loans on one-to-four-unit residential properties, considered single-family properties, decreased to a seasonally adjusted rate of 6.04% of all loans outstanding at the end of the second quarter of 2014, 7 basis points less than its level in the first quarter of 2014 and 92 basis… Read More ›

Rates on New Home Loans Rise, Amount Declines

Earlier today, the Federal Housing Finance Agency (FHFA) reported a slight (4 basis point) decline in mortgage interest rates for the month of June. However, the decline was driven entirely by loans on existing homes. The average interest rate on conventional mortgages used to purchase newly built homes moved in the opposite direction, and the increase was fairly strong. The contract… Read More ›

Contract Rate on New Home Loans Dips Under 4 Percent

On average, mortgage interest rates declined in May, according to data released earlier today by the Federal Housing Finance Agency (FHFA).  On conventional mortgages used to purchase newly-built homes, the average contract interest rate dropped by more than 30 basis points, from 4.19 to 3.88 percent.  This is the lowest the new home loan rate has been in a year… Read More ›

Rates on New Home Loans Remain Stable

The average characteristics of conventional mortgages used to buy newly built homes were little changed in April, according to data released earlier today by the Federal Housing Finance Agency (FHFA).  The average contract interest rate declined a scant 2 basis points to 4.19 percent, while the average initial fees and charges increased by a single basis point to 1.22 percent.  As a result,… Read More ›

Mortgage Delinquency Rates Fall

Data released by the Mortgage Bankers Association (MBA) indicates that the delinquency rate for mortgage loans on one-to-four-unit residential properties, considered single-family properties, decreased to a not seasonally adjusted rate of 5.69% of all loans outstanding at the end of the first quarter of 2014, 106 basis points below the 6.75% delinquency rate recorded in the first quarter of 2013…. Read More ›

Rates on New Home Loans Back Up Over 4%

Earlier today, the Federal Housing Finance Agency (FHFA) reported an 8 basis point decline in mortgage interest rates between February and March. However, the decline was due entirely to loans on existing homes. The average contract interest rate on conventional mortgages used to purchase newly built homes actually increased in March, from 3.91 to 4.21 percent, reversing an anomalous drop… Read More ›