Eye On Housing
According to the Federal Reserve Board’s November 2023 Senior Loan Officer Opinion Survey (SLOOS), lending standards tightened for all commercial real estate (CRE) loan categories and most residential real estate (RRE) categories in the third quarter of 2023. Moreover, demand for RRE and CRE loans weakened across all categories over the quarter. A higher net percentage of banks reported tighter… Read More ›
In July, interest rates on conventional mortgages used to purchase newly built homes increased for the second month in a row, according to data released yesterday by the Federal Housing Finance Agency (FHFA). The new FHFA data show the average contract interest rate on conventional loans for newly built homes increasing by nearly 4 tenths of a percent, to 3.94… Read More ›
As of 2012, FHA/VA insured loans still account for well over 20 percent of the market for new single-family homes, according to data from the Survey of Construction (SOC). The SOC is conducted by the Census Bureau, partly funded by HUD, and the source of the familiar monthly series on housing starts. Among other things, the SOC collects information on… Read More ›
In June, interest rates on conventional mortgages used to purchase newly built homes increased slightly while the size of the loans declined, according to data released today by the Federal Housing Finance Agency (FHFA). The new FHFA data show that the average contract interest rate on conventional loans for newly built homes increased 11 basis points to 3.52 percent, back… Read More ›
Reversing a two-month trend, interest rates on loans for new homes declined slightly in May, according to data released today by the Federal Housing Finance Agency (FHFA). The average contract rate on conventional loans for newly built homes dipped 11 basis points to 3.41 percent, the lowest it’s been since February. Although initial fees and charges on the loans increased from… Read More ›
Interest rates on loans for new homes increased slightly in March, according to data recently released by the Federal Housing Finance Agency (FHFA). The average contract rate on conventional loans for newly built homes increased 13 basis points, to 3.50 percent. Although initial fees and charges on the loans declined from 1.17 to 1.08 percent, that still resulted in an… Read More ›
Availability of new loans for acquisition, development, and construction (AD&C) has finally started to improve slightly, according to NAHB’s survey on AD&C financing for the third quarter of 2012. The overall net bank tightening index calculated from the AD&C survey dropped from +6.0 in the second quarter down to -4.3. The way the index is constructed, negative numbers indicate easing… Read More ›