Tag Archive for ‘conventional loans’

All-Cash New Home Sales Outnumber FHA-Backed for the First Time Since 2007

NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that new home sales financed through FHA numbered 11,000 and accounted for 7.5% of the total in Q3 2022–the smallest share since the fourth quarter of 2007.  The share has dropped by nearly two-thirds since the spring of 2020. In contrast, the share… Read More ›

Share of Non-Conventional Financing Down in 2021

NAHB analysis of the 2021 Census Bureau Survey of Construction (SOC) data shows that, nationwide, the share of non-conventional financing for new home sales accounted for 28.8% of the market, while conventional financing dominated the market at 71.2%. In 2020, share of non-conventional financing was 34.4% of the market while conventional financing accounted for 65.6% of the market share. Non-conventional… Read More ›

Share of New Home Sales Backed by FHA Loans Reaches 14-Year Low

NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that the four-quarter moving average (MA) share of new home sales financed through FHA was 11.0% in Q2 2022–its smallest share since early 2008. Conventional loans financed 74.8% of new home sales in the second quarter of 2022—a 1.8 percentage point quarter-over-quarter decline…. Read More ›

Conventional Loans: Greatest Share of New Sales Since 2008

NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that conventional loans financed 76.3% of new home sales in the second quarter of 2021—the largest share since the beginning of the Great Recession in 2008. The share of sales backed by conventional loans in Q2 2021 increased 5.1 percentage points (quarter-over-quarter) from… Read More ›

MBA Data Indicates Large Declines for Past Due and Seriously Delinquent Loans

According to the Mortgage Bankers Association’s (MBA) fourth quarter National Delinquency Survey (NDS), on a seasonally adjusted basis, the percentage of loans past due decreased from 6.38% in the first quarter to 5.47%. State-level data of the past due loan category reveal that all states had reduced their count of past-due loans. The states that experienced the largest numerical declines… Read More ›

Share of Non-Conventional Financing Hold Steady in 2020

NAHB analysis of the 2020 Census Bureau Survey of Construction (SOC) data shows that, nationwide, the share of non-conventional financing for new home sales accounted for 34.4% of the market, while conventional financing dominated the market at 65.6%. In 2019, share of non-conventional financing was 35.0% of the market while conventional financing accounted for 65.0% of the market share. Non-conventional… Read More ›

Mortgage Rates Taper Over the Prior Month, Boosting Refinancing

Over the last month, the Mortgage Bankers Association’s (MBA) tracked 30-year fixed-rate mortgage rate dipped below the elevated levels shown in April, mirroring a similar decline in Treasury yields. For the week ending May 14, the average 30-year fixed rate mortgage was 3.15%. The MBA’s Market Composite Index, reflective of activity in refinancing and purchase mortgages, changed course compared to… Read More ›

Conventional and FHA Mortgages Finance 90% of New Home Sales in Q1 2021

NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that conventional loans financed the largest share of new home sales since 2018. The share of sales backed by conventional loans in the Q1 2021 increased 2.8 percentage points (quarter-over-quarter) to 71.6% and 2.1 percentage points since Q1 2020. FHA-backed sales made up 19.3%… Read More ›

Increased Share of All-Cash New Home Sales Marks a Busier-Than-Usual Fourth Quarter

NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that conventional loans financed the most new home sales in a fourth quarter since 2006 (see red bars in the chart below). However, the share of sales backed by conventional loans in the fourth quarter was down 2.2 percentage points (quarter-over-quarter)… Read More ›