Eye On Housing
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 ›
Tag Archive for ‘MIRS’
New Home Loans: Rate Edges Down, Purchase Price Up
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 ›
Rates on New Home Loans Join Downward Trend
On Christmas Eve, the Federal Housing Finance Agency (FHFA) reported a 10 basis point decline in mortgage interest rates for the month of November. Data from FHFA’s Monthly Interest Rate Survey (MIRS) cover conventional single-family mortgages and distinguish whether the loans are for the purchase of new or existing homes. In October, rates on existing home loans declined while rates… Read More ›
Interest Rates on New Home Loans Remain Stubborn
Earlier today, the Federal Housing Finance Agency (FHFA) reported a 4 basis point decline in mortgage interest rates for the month of October. However, the decline was driven entirely by loans on existing homes. The average contract interest rate on conventional mortgages for new homes stubbornly refused to follow suit, moving instead in the opposite direction from 4.30 to 4.32 percent. … Read More ›
Rates on New Home Loans: Still Rising
In September, interest rates on conventional mortgages used to purchase newly built homes increased for the fourth month in a row, according to data released today by the Federal Housing Finance Agency (FHFA). During the month, the average contract interest rate increased by 10 basis points to 4.30 percent, while initial fees increased to 1.14 percent (from an average of… Read More ›
New Home Loans: Rates & House Prices Both Up
In August, interest rates on conventional mortgages used to purchase newly built homes increased for the third month in a row, according to data released yesterday by the Federal Housing Finance Agency (FHFA). After rising by roughly 1 tenth of a percentage point in June and roughly 4 tenths in July, the average contract interest rate on conventional loans for… Read More ›
New Home Loans: Rates & House Prices Both Up
In August, interest rates on conventional mortgages used to purchase newly built homes increased for the third month in a row, according to data released yesterday by the Federal Housing Finance Agency (FHFA). After rising by roughly 1 tenth of a percentage point in June and roughly 4 tenths in July, the average contract interest rate on conventional loans for… Read More ›
Rates Rise Again on Loans for New Homes
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 ›
New Home Mortgages: Rates Up, Size Down Slightly
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 ›
Rates Decline Slightly on Loans to Buy New Homes
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 ›