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| HBA and Habitat for Humanity representatives visit the site of the latest renovation project |
HBA members contributing to the project include:
- Allcon Roofing
- ACA/ Freewood Contracting
- Hughes Supply
- Palmetto Exterminators
- Waldrop Heating and Air
The Home Builders Association of Greenville are your neighbors and community leaders providing education and support for building industry professionals. We create jobs, encourage homeownership, and promote responsible growth throughout the upstate of South Carolina.
Friday, August 1, 2014
HBA Community Service Committee Helps Habitat Renovate a Home
HBA members contributing to the project include:
Priced Out: How a $1,000 increase in the cost of a new home affects buyers
Did You Know...
A $1,000 increase in the price of a new home prices out 380 families from home ownership in the Upstate? According to the National Association of Home Builders, the average price of a new home in the Upstate is $277,468. The income needed to qualify for an average-priced new home is $67,900, almost $9,000 higher than the median household income of $58,200.
A $1,000 increase in the price of a new home prices out 380 families from home ownership in the Upstate? According to the National Association of Home Builders, the average price of a new home in the Upstate is $277,468. The income needed to qualify for an average-priced new home is $67,900, almost $9,000 higher than the median household income of $58,200.
Thursday, July 31, 2014
First-Time Home Buyers are a Force
Did You Know:
First-time home buyers are 49 percent of all home buyers in South Carolina? Our state's percentage peaked in 2009 at 56 percent (First-Time Home Buyer Tax Credit). The lowest years were 2001-2003, at 30 percent.
In comparison to other states, South Carolina has one of the lowest shares of first-time home buyers to all buyers. The states with the lowest share have more non-urban areas while the states with the highest share are more urbanized. Washington DC has the highest share of first-time home buyers at 68 percent. The states with the lowest share of first-time home buyers are Montana and South Dakota at 46 percent.
Read more at FHFA.gov.
First-time home buyers are 49 percent of all home buyers in South Carolina? Our state's percentage peaked in 2009 at 56 percent (First-Time Home Buyer Tax Credit). The lowest years were 2001-2003, at 30 percent.
In comparison to other states, South Carolina has one of the lowest shares of first-time home buyers to all buyers. The states with the lowest share have more non-urban areas while the states with the highest share are more urbanized. Washington DC has the highest share of first-time home buyers at 68 percent. The states with the lowest share of first-time home buyers are Montana and South Dakota at 46 percent.
Read more at FHFA.gov.
FHFA Index Shows Mortgage Interest Rates Continue to Decrease in June
Nationally, interest rates on mortgages decreased from May to June, according to an index of new mortgage contracts.
According to the Federal Housing Finance Agency (FHFA), the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders index was 4.08 percent for loans closed in late June. The index is calculated using FHFA's Monthly Interest Rate Survey. The contract rate on the composite of all mortgage loans was 4.09 percent in June, a decrease from 4.13 percent in May.
Interest rates are typically locked in 30-45 days before a loan is closed. Consequently, the June index reflects market rates from mid-to-late May. The effective interest rate was 4.24 percent in June, down 4 basis points from 4.28 percent in May. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
FHFA's interest rate survey shows the average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 4.34 in June, a decrease of 3 basis points. The average loan amount for all loans was $292,200 in June, up $9,600 from $282,600 in May.
FHFA will release June index values Thursday, August 28th, 2014.
According to the Federal Housing Finance Agency (FHFA), the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders index was 4.08 percent for loans closed in late June. The index is calculated using FHFA's Monthly Interest Rate Survey. The contract rate on the composite of all mortgage loans was 4.09 percent in June, a decrease from 4.13 percent in May.
Interest rates are typically locked in 30-45 days before a loan is closed. Consequently, the June index reflects market rates from mid-to-late May. The effective interest rate was 4.24 percent in June, down 4 basis points from 4.28 percent in May. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
FHFA's interest rate survey shows the average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 4.34 in June, a decrease of 3 basis points. The average loan amount for all loans was $292,200 in June, up $9,600 from $282,600 in May.
FHFA will release June index values Thursday, August 28th, 2014.
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