Eye On Housing
NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that conventional loans financed 75.7% of new home sales in the third quarter of 2021—the largest share since the beginning of the Great Recession in 2008. The share increased 1.7 percentage points over Q2 2021 (revised) and has risen each of… Read More ›
In the past month, total mortgage activity, as measured by the Mortgage Bankers Association’s (MBA) Market Composite Index, was supported by refinancing, recovering from the relatively lower levels that were characteristic of the months prior. The gain in refinancing is owed to a sizable drop in the 30-year fixed mortgage, which decreased by 10 basis points to 3.01 percent for… Read More ›
NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that VA-backed sales made up 9.1% of new home sales in the first quarter of 2020, the largest market share since early 2016. In addition, cash sales (4.3%) made up their smallest share since Q3 2009 (3.8%). Mortgages backed by the… Read More ›
NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that FHA loans financed 12.9% of new home sales during the third quarter of 2018, 2.3 percentage points above the prior quarter and the largest share since Q3 2017. Despite the increase, the share of sales financed with FHA-backed mortgages remains… Read More ›
NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the Census Bureau reveals that cash sales accounted for 11,000 new home sales in the fourth quarter of 2017. Cash purchases also accounted for 11,000 new home sales in Q2 2017, but only made up 6.5% of the total. In contrast, they made up 7.9% of purchases in… Read More ›
NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the Census Bureau reveals that just 4.7% of new home sales in the first quarter of 2017 were purchased with cash—down from the most recent peak of 9.5% in the fourth quarter of 2014. In contrast, the share of new home sales financed with conventional mortgages… Read More ›
NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the Census Bureau reveals that 70.8% of new home sales in 2016 were financed with conventional products—up from the most recent trough of 58.5% in 2010. Conversely, over the same period, the share of new home sales financed with FHA mortgages has fallen from 25.1% to… Read More ›
NAHB analysis of the most recent Census estimates concerning sources of financing for new home sales reveals that the share of mortgages financed through conventional products in the third quarter of 2016 rose to 74.1%–the highest level seen since 2008. In contrast, cash sales accounted for the smallest portion they have since the second quarter of 2010. The portions financed with FHA… Read More ›
A recent release from the Federal Reserve Board indicates that consumer credit outstanding grew by a seasonally adjusted annual rate of 6.9% over the year of 2014, accelerating from the 6.0% growth rate recorded in 2013. At the end of 2014, there was $3.3 trillion in consumer credit outstanding. The expansion in consumer credit outstanding over the year largely reflected… Read More ›