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 ›
Tag Archive for ‘MIRS’
Rates Lower, Loans Larger on New Home Mortgages
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 ›
Interest Rates Remain Stable on New Home Loans
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 ›
Interest Rates Remain Stable on New Home Loans
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 ›
Rate on New Home Loans Stays Just Above 4 Percent
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 ›
Interest Rates Stay Flat on Loans for New Homes
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 ›
Interest Rates Little Changed on New Home Loans
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 ›
Rates on New Home Loans Rise, Amount Declines
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 ›
Contract Rate on New Home Loans Dips Under 4 Percent
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 ›
Rates on New Home Loans Remain Stable
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 ›