Eye On Housing
On average, the contract rate on conventional mortgages used to purchase newly-built homes, remained a constant 4.03 percent in December, according to data released yesterday by the Federal Housing Finance Agency (FHFA). However, initial fees and charges on the loans dropped form 1.23 percent in November down to 1.16 percent. As a result, the average effective rate on new home… Read More ›
Interest rates on conventional mortgages used to buy newly built homes declined in November, based on data released earlier today by the Federal Housing Finance Agency (FHFA). The data show the average contract interest rate declining by 7 basis points to 4.03 percent, the lowest it’s been since May, while the average initial fees and charges increased by a scant… 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 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 ›