Eye On Housing
NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the Census Bureau reveals that cash sales accounted for just 4.8% of the total, down from 6.5% in the second quarter. FHA-loans financed 14.3% of new home sales during the third quarter of 2017. As of the second quarter of 2017, the share of sales financed with FHA-backed… Read More ›
After two months of near perfect stability, interest rates on conventional mortgages for newly built homes declined noticeably in October, according to data released this week by the Federal Housing Finance Agency (FHFA). The FHFA data show the average contract rate on the loans dropping from 3.98 to 3.92 percent, while average initial fees and charges went from 1.16 to… Read More ›
Data released today by the Federal Housing Finance Agency (FHFA) show that interest rates on mortgages for new homes declined in September, but the changes were very small. The average contract rate on conventional loans used to purchase newly built single-family homes edged down by two basis points, from an even 4.00 to 3.98 percent—a decline too small to see on the chart… Read More ›
NAHB analysis of the Census Bureau Survey of Construction (SOC) data shows that non-conventional forms of financing new single-family home purchases remained elevated in 2014, but their use and mix varied widely across the country. In the West North Central division, only 21 percent of new homes started in 2014 were purchased using non-conventional financing methods. The share was twice… Read More ›
On average, the contract rate on conventional mortgages used to purchase newly-built homes increased 12 basis points in July, to 3.98 percent, according to data released yesterday by the Federal Housing Finance Agency (FHFA). At 3.98, this is the highest the contract rate has been since December of last year. Initial fees have some ability to offset increases in a… Read More ›
Interest rates on conventional mortgages used to buy newly built homes increased in June, according to data released earlier today by the Federal Housing Finance Agency (FHFA). The data show the average contract interest rate increasing by 9 basis points to 3.86 percent, the highest it’s been since January. The average initial fees and charges on the loans decreased by… Read More ›
Data released today by the Federal Housing Finance Agency (FHFA) shows a one basis point decline in the average contract interest rate on conventional loans used to purchase newly built homes. Small as this change was it took the contract rate on new home loans down to 3.77 percent in May—which is the lowest it’s been since June of 2013…. Read More ›
On May 28, the Federal Housing Finance Agency (FHFA) reported that mortgage rates overall were nearly stable in April, changing by a mere 2 basis points. The same was true for the subset of mortgages used to purchase newly built homes. The average contract interest rate on conventional mortgages for new homes edged down by 3 basis points, while the… Read More ›
This morning, the Federal Housing Finance Agency (FHFA) reported that interest rates on home mortgages increased slightly in March. The same was true for the subset of mortgages used to purchase new homes. On conventional mortgages used to purchase newly built homes, the average contract rate and average initial fees and charges each increased by 2 basis points. The contract… Read More ›
Last month we reported that the contract rate on new home loans dipped below 4 percent in January, based on data released by the Federal Housing Finance Agency (FHFA). In February, the rate continued to decline, from 3.92 to 3.79 percent, as did the average initial fees and charges on the loans, from 1.18 to 1.11. In both cases, the… Read More ›