Tag Archive for ‘mortgages’

New Home Mortgages: Rates Change Little, Loan Size Surges

Data released today by the Federal Housing Finance Agency (FHFA) show that interest rates on mortgages for new homes declined in September, but the changes were very small.  The average contract rate on conventional loans used to purchase newly built single-family homes edged down by two basis points, from an even 4.00 to 3.98 percent—a decline too small to see on the chart… Read More ›

How New Homebuyers Finance Their Homes Across the Nation

NAHB analysis of the Census Bureau Survey of Construction (SOC) data shows that non-conventional forms of financing new single-family home purchases remained elevated in 2014, but their use and mix varied widely across the country. In the West North Central division, only 21 percent of new homes started in 2014 were purchased using non-conventional financing methods. The share was twice… Read More ›

Residential Mortgages: Who Borrows What?

The Financial Accounts of the United States shows continued improvement in the aggregate home equity position of U.S. households. Household holdings of real estate, measured on a not seasonally adjusted basis, totaled $21.540 trillion in the second quarter of 2015, $1.366 trillion higher than its level, $20.174 trillion, in the second quarter of 2014. At the same time, home mortgage debt outstanding,… Read More ›

Rates on New Home Loans Hit 2015 High

On average, the contract rate on conventional mortgages used to purchase newly-built homes increased 12 basis points in July, to 3.98 percent, according to data released yesterday by the Federal Housing Finance Agency (FHFA).  At 3.98, this is the highest the contract rate has been since December of last year. Initial fees have some ability to offset increases in a… Read More ›

Serious Delinquency Rates Continue Their Descent

According to a report by the Mortgage Bankers’ Association the delinquency rate for mortgage loans on 1-4 unit residential properties decreased to a seasonally adjusted rate of 5.30% of all loans outstanding at the end of the second quarter of 2015, 24 basis points less than its level in the first quarter of 2015 and 74 basis points below its level one… Read More ›

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 ›