Tag Archive for ‘mortgages’

New Home Loans: Rates and House Prices Both Increase

Interest rates on conventional mortgages used to buy newly built homes increased in June, according to data released earlier today by the Federal Housing Finance Agency (FHFA).  The data show the average contract interest rate increasing by 9 basis points to 3.86 percent, the highest it’s been since January. The average initial fees and charges on the loans decreased by… Read More ›

Euro Area Mortgage Debt Outstanding Continues to Expand

In the US, the multi-year decline and the more recent moderate recovery in mortgage debt outstanding has been well documented. However, mortgage debt outstanding in the Euro Area has had a different experience. According to the European Mortgage Federation, and documented in Figure 1 below, mortgage debt outstanding has been rising in recent years. After recording year-over-year increases between 2002,… Read More ›

Rates on New Home Loans Fall to Two-Year Low

Data released today by the Federal Housing Finance Agency (FHFA) shows a one basis point decline in the average contract interest rate on conventional loans used to purchase newly built homes.   Small as this change was it took the contract rate on new home loans down to 3.77 percent in May—which is the lowest it’s been since June of 2013…. Read More ›

Rates on New Home Loans Stable, Under 4 Percent

On May 28, the Federal Housing Finance Agency (FHFA) reported that mortgage rates overall were nearly stable in April, changing by a mere 2 basis points.  The same was true for the subset of mortgages used to purchase newly built homes.  The average contract interest rate on conventional mortgages for new homes edged down by 3 basis points, while the… Read More ›

“Lien-ing” In: What is behind the Continued Recovery of Mortgage Default Rates?

According to a report by the Mortgage Bankers’ Association (MBA) the delinquency rate for mortgage loans on 1-4 unit residential properties, considered single-family properties, decreased to a seasonally adjusted rate of 5.54% of all loans outstanding at the end of the first quarter of 2015, 14 basis points less than its level in the fourth quarter of 2014 and 57… Read More ›

Slight Uptick in Rates on Loans for New Homes

This morning, the Federal Housing Finance Agency (FHFA) reported that interest rates on home mortgages increased slightly in March.  The same was true for the subset of mortgages used to purchase new homes. On conventional mortgages used to purchase newly built homes, the average contract rate and average initial fees and charges each increased by 2 basis points.  The contract… Read More ›

Average New Home Loan Rate Dips Below 4 Percent

Earlier today, the Federal Housing Finance Agency (FHFA) reported a 10 basis point decline in mortgage interest rates for the month of January.  Looking into the data a little further shows that the story was essentially the same for the subset of mortgages used to purchase newly built homes, On conventional mortgages for new homes, FHFA tables show the average… Read More ›

Share of Delinquent Mortgages Continues to Fall

According to the most recent release of the Mortgage Bankers Association’s National Delinquency Survey, the share of mortgages that are considered delinquent continued to fall. On a seasonally adjusted basis, the share of mortgages past due declined to 5.68% in the fourth quarter of 2014, 17 basis points from the third quarter of 2014 and 71 basis less than its… Read More ›