Eye On Housing
Earlier today, the Federal Housing Finance Agency (FHFA) reported a 5 basis point increase in mortgage interest rates for the month of October. However, the increase was due entirely to loans on existing homes. The effective interest rate on conventional loans used to purchase newly built homes, meanwhile, remained unchanged. In fact, the average contract rate on the new home loans actually inched… Read More ›
Earlier today, the Federal Housing Finance Agency (FHFA) reported a 5 basis point increase in mortgage interest rates for the month of October. However, the increase was due entirely to loans on existing homes. The effective interest rate on conventional loans used to purchase newly built homes, meanwhile, remained unchanged. In fact, the average contract rate on the new home loans actually inched… Read More ›
Earlier today, the Federal Housing Finance Agency (FHFA) reported that mortgage interest rates declined in September. That was true as well for the subset of mortgages used to purchase newly built homes, but the changes were very small. On conventional mortgages for new homes, the average contract interest rate edged down by just 2 basis points, to 4.11 percent. Meanwhile, the average… Read More ›
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 ›
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 ›
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 ›
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 ›
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 ›
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 ›
Earlier today, the Federal Housing Finance Agency (FHFA) reported a slight (3 basis point) rise in mortgage interest rates for December. However, the rise was driven entirely by loans used to purchase existing homes. The average contract interest rate on conventional mortgages for new homes actually moved slightly in the opposite direction from 4.26 to 4.24 percent. Initial fees, which have… Read More ›