Nationally, interest rates on conventional purchase-money mortgages decreased from June to July, according to several indices of new mortgage contracts.
The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 3.99 percent for loans closed in late July, down 1 basis point from 4.00 percent in June.
The average interest rate on all mortgage loans was 3.98 percent, down 2 basis points from 4.00 in June.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $424,100 or less was 4.14 percent, down 1 basis point from 4.15 in June.
The effective interest rate on all mortgage loans was 4.08 percent in July, down 3 basis points from 4.11 in June. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
The average loan amount for all loans was $317,000 in July, down $1,900 from $318,900 in June.
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Showing posts with label Mortgage Interest Rates. Show all posts
Showing posts with label Mortgage Interest Rates. Show all posts
Tuesday, August 29, 2017
Thursday, July 27, 2017
FHFA: Mortgage rates increased in June
Nationally, interest rates on conventional purchase-money mortgages increased from May to June, according to several indices of new mortgage contracts.
The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 4.00 percent for loans closed in late June, up 13 basis points from 3.87 percent in May.
The average interest rate on all mortgage loans was 4.00 percent, up 10 basis points from 3.90 in May.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $424,100 or less was 4.15 percent, up 18 basis points from 3.97 in May.
The effective interest rate on all mortgage loans was 4.11 percent in June, up 9 basis points from 4.02 in May. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
The average loan amount for all loans was $318,900 in June, up $3,400 from $315,500 in May.
The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 4.00 percent for loans closed in late June, up 13 basis points from 3.87 percent in May.
The average interest rate on all mortgage loans was 4.00 percent, up 10 basis points from 3.90 in May.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $424,100 or less was 4.15 percent, up 18 basis points from 3.97 in May.
The effective interest rate on all mortgage loans was 4.11 percent in June, up 9 basis points from 4.02 in May. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
The average loan amount for all loans was $318,900 in June, up $3,400 from $315,500 in May.
Monday, July 24, 2017
FHFA: mortgage rates declined in May
Nationally, interest rates on conventional purchase-money mortgages decreased from April to May, according to several indices of new mortgage contracts.
The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 3.87 percent for loans closed in late May, down 10 basis points from 3.97 percent in April.
The average interest rate on all mortgage loans was 3.90 percent, down 8 basis points from 3.98 in April.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $424,100 or less was 3.97 percent, down 7 basis points from 4.04 in April.
The effective interest rate on all mortgage loans was 4.02 percent in May, down 8 basis points from 4.10 in April. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
The average loan amount for all loans was $315,500 in May, up $3,900 from $311,600 in April.
The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 3.87 percent for loans closed in late May, down 10 basis points from 3.97 percent in April.
The average interest rate on all mortgage loans was 3.90 percent, down 8 basis points from 3.98 in April.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $424,100 or less was 3.97 percent, down 7 basis points from 4.04 in April.
The effective interest rate on all mortgage loans was 4.02 percent in May, down 8 basis points from 4.10 in April. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
The average loan amount for all loans was $315,500 in May, up $3,900 from $311,600 in April.
Tuesday, February 28, 2017
FHFA: Mortgage Rates Increased in January
Nationally, interest rates on conventional purchase-money mortgages increased from December to January, according to several indices of new mortgage contracts.
The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 4.22 percent for loans closed in late January, up 22 basis points from 4.00 percent in December.
The average interest rate on all mortgage loans was 4.17 percent, up 26 basis points from 3.91 in December.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $424,100 or less was 4.37 percent, up 29 basis points from 4.08 in December.
The effective interest rate on all mortgage loans was 4.30 percent in January, up 31 basis points from 3.99 in December. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
The average loan amount for all loans was $305,400 in January, down $13,700 from $319,100 in December.
The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 4.22 percent for loans closed in late January, up 22 basis points from 4.00 percent in December.
The average interest rate on all mortgage loans was 4.17 percent, up 26 basis points from 3.91 in December.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $424,100 or less was 4.37 percent, up 29 basis points from 4.08 in December.
The effective interest rate on all mortgage loans was 4.30 percent in January, up 31 basis points from 3.99 in December. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
The average loan amount for all loans was $305,400 in January, down $13,700 from $319,100 in December.
Wednesday, December 30, 2015
FHFA: Mortgage Interest Rates Fall in November
Nationally, interest rates on conventional purchase-money mortgages decreased from October to November, according to the Federal Housing Finance Agency's mortgage rate index.
The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 3.85 percent for loans closed in late November, down 4 basis points from 3.89 percent in October.
The average interest rate on all mortgage loans was 3.86 percent, down 4 basis points from 3.90 in October.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 4.08 percent, down 4 basis points from 4.12 in October.
The effective interest rate on all mortgage loans was 4.01 percent in November, down 3 basis points from 4.04 percent in October. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
The average loan amount for all loans was $319,800 in November, up $11,200 from $308,600 in October.
The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 3.85 percent for loans closed in late November, down 4 basis points from 3.89 percent in October.
The average interest rate on all mortgage loans was 3.86 percent, down 4 basis points from 3.90 in October.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 4.08 percent, down 4 basis points from 4.12 in October.
The effective interest rate on all mortgage loans was 4.01 percent in November, down 3 basis points from 4.04 percent in October. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
The average loan amount for all loans was $319,800 in November, up $11,200 from $308,600 in October.
Friday, December 18, 2015
FHFA Index Shows Mortgage Rates Decreased in October
Nationally, interest rates on conventional purchase-money mortgages decreased from September to October, according to several indices of new mortgage contracts.
- The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 3.89 percent for loans closed in late October, down 4 basis points from 3.93 percent in September.
- The average interest rate on all mortgage loans was 3.90 percent, down 5 basis points from 3.95 in September.
- The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 4.12 percent, down 5 basis points from 4.17 in September.
- The effective interest rate on all mortgage loans was 4.04 percent in October, down 6 basis points from 4.10 percent in September. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
- The average loan amount for all loans was $308,600 in October, up $900 from $307,700 in September.
Thursday, October 29, 2015
FHFA Index Shows Mortgage Interest Rates Decreased in September
Nationally, interest rates on conventional purchase-money mortgages decreased from August to September, according to several indices of new mortgage contracts.
The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 3.93 percent for loans closed in late September, down 6 basis points from 3.99 percent in August.
The average interest rate on all mortgage loans was 3.95 percent, down 4 basis points from 3.99 in August.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 4.17 percent, down 3 basis points from 4.20 in August.
The effective interest rate on all mortgage loans was 4.10 percent in September, down 5 basis points from 4.15 percent in August. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
The average loan amount for all loans was $307,700 in September, up $4,400 from $303,300 in August.
The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 3.93 percent for loans closed in late September, down 6 basis points from 3.99 percent in August.
The average interest rate on all mortgage loans was 3.95 percent, down 4 basis points from 3.99 in August.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 4.17 percent, down 3 basis points from 4.20 in August.
The effective interest rate on all mortgage loans was 4.10 percent in September, down 5 basis points from 4.15 percent in August. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
The average loan amount for all loans was $307,700 in September, up $4,400 from $303,300 in August.
Thursday, August 27, 2015
FHFA: Mortgage Rates Rise in July
Nationally, interest rates on conventional purchase-money mortgages increased from June to July, according to several indices of new mortgage contracts.
The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 4.02 percent for loans closed in late July, up 17 basis points from 3.85 percent in June.
The average interest rate on all mortgage loans was 4.01 percent, up 16 basis points from 3.85 in June.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 4.20 percent, an increase of 16 basis points from 4.04 in June.
The effective interest rate on all mortgage loans was 4.17 percent in July, up 18 basis points from 3.99 percent in June. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
The average loan amount for all loans was $304,600 in June, down $21,000 from $325,600 in June.
The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 4.02 percent for loans closed in late July, up 17 basis points from 3.85 percent in June.
The average interest rate on all mortgage loans was 4.01 percent, up 16 basis points from 3.85 in June.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 4.20 percent, an increase of 16 basis points from 4.04 in June.
The effective interest rate on all mortgage loans was 4.17 percent in July, up 18 basis points from 3.99 percent in June. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
The average loan amount for all loans was $304,600 in June, down $21,000 from $325,600 in June.
Thursday, July 30, 2015
FHFA: Mortgage Interest Rates Rose in June
Nationally, interest rates on conventional purchase-money mortgages increased from May to June, according to several indices of new mortgage contracts.
The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders index was 3.85 percent for loans closed in late June, up 10 basis points from 3.75 percent in May.
The average interest rate on all mortgage loans was 3.85 percent, up 10 basis points from 3.75 in May.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 4.04 percent, an increase of 14 basis points from 3.90 in May.
The effective interest rate on all mortgage loans was 3.99 percent in June, up 9 basis points from 3.90 percent in May. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
The average loan amount for all loans was $325,600 in May, up $14,700 from $310,900 in May.
The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders index was 3.85 percent for loans closed in late June, up 10 basis points from 3.75 percent in May.
The average interest rate on all mortgage loans was 3.85 percent, up 10 basis points from 3.75 in May.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 4.04 percent, an increase of 14 basis points from 3.90 in May.
The effective interest rate on all mortgage loans was 3.99 percent in June, up 9 basis points from 3.90 percent in May. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
The average loan amount for all loans was $325,600 in May, up $14,700 from $310,900 in May.
Friday, June 26, 2015
FHFA: Mortgage Interest Rates Fall in May
Nationally, interest rates on conventional purchase-money mortgages decreased from April to May, according to several indices of new mortgage contracts.
The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders index was 3.75 percent for loans closed in late May, down 3 basis points from 3.78 percent in April.
The average interest rate on all mortgage loans was 3.75 percent, down 3 basis points from 3.78 in April.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 3.90 percent, a decrease of 3 basis points from 3.93 in April.
The effective interest rate on all mortgage loans was 3.90 percent in May, down 4 basis points from 3.94 percent in April. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
The average loan amount for all loans was $310,900 in May, up $300 from $310,600 in April.
The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders index was 3.75 percent for loans closed in late May, down 3 basis points from 3.78 percent in April.
The average interest rate on all mortgage loans was 3.75 percent, down 3 basis points from 3.78 in April.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 3.90 percent, a decrease of 3 basis points from 3.93 in April.
The effective interest rate on all mortgage loans was 3.90 percent in May, down 4 basis points from 3.94 percent in April. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
The average loan amount for all loans was $310,900 in May, up $300 from $310,600 in April.
Thursday, May 28, 2015
FHFA: Mortgage Interest Rates Fall in April
Nationally, interest rates on conventional purchase-money mortgages decreased from March to April, according to several indices of new mortgage contracts.
The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders index was 3.78 percent for loans closed in late April, down 2 basis points from 3.80 percent in March.
The average interest rate on all mortgage loans was 3.78 percent, down 2 basis points from 3.80 in March.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 3.93 percent, a decrease of 2 basis points from 3.95 in March.
The effective interest rate on all mortgage loans was 3.94 percent in April, down 1 basis point from 3.95 percent in March. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
The average loan amount for all loans was $310,600 in April, down $200 from $310,800 in March.
The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders index was 3.78 percent for loans closed in late April, down 2 basis points from 3.80 percent in March.
The average interest rate on all mortgage loans was 3.78 percent, down 2 basis points from 3.80 in March.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 3.93 percent, a decrease of 2 basis points from 3.95 in March.
The effective interest rate on all mortgage loans was 3.94 percent in April, down 1 basis point from 3.95 percent in March. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
The average loan amount for all loans was $310,600 in April, down $200 from $310,800 in March.
Tuesday, April 28, 2015
FHFA Index Shows Mortgage Interest Rates Increased in March
Nationally, interest rates on conventional purchase-money mortgages increased from February to March, according to several indices of new mortgage contracts.
The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders index was 3.80 percent for loans closed in late March, up 3 basis points from 3.77 percent in February.
The average interest rate on all mortgage loans was 3.80 percent, up 3 basis points from 3.77 in February.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 3.95 percent, an increase of 4 basis points from 3.91 in February.
The effective interest rate on all mortgage loans was 3.95 percent in March, up 3 basis points from 3.92 percent in February. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
The average loan amount for all loans was $310,800 in March, up $16,600 from $294,200 in February.
The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders index was 3.80 percent for loans closed in late March, up 3 basis points from 3.77 percent in February.
The average interest rate on all mortgage loans was 3.80 percent, up 3 basis points from 3.77 in February.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 3.95 percent, an increase of 4 basis points from 3.91 in February.
The effective interest rate on all mortgage loans was 3.95 percent in March, up 3 basis points from 3.92 percent in February. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
The average loan amount for all loans was $310,800 in March, up $16,600 from $294,200 in February.
Wednesday, April 15, 2015
FHFA Index Shows Mortgage Interest Rates Decreased in February
Nationally, interest rates on conventional purchase-money mortgages decreased from January to February, according to several indices of new mortgage contracts.
The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders index was 3.77 percent for loans closed in late February, down 11 basis points from 3.88 percent in January.
The average interest rate on all mortgage loans was 3.77 percent, down 12 basis points from 3.89 in January.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 3.91 percent, a decrease of 15 basis points from 4.06 in January.
The effective interest rate on all mortgage loans was 3.92 percent in February, down 12 basis points from 4.04 percent in January. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
The average loan amount for all loans was $294,200 in February, up $2,900 from $291,300 in January.
Thursday, February 26, 2015
FHFA Index Shows Mortgage Interest Rates Decreased in January
Nationally, interest rates on conventional purchase-money mortgages decreased from December to January, according to several indices of new mortgage contracts.
The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders index was 3.88 percent for loans closed in late January, down 10 basis points from 3.98 percent in December.
The average interest rate on all mortgage loans was 3.89 percent, down 11 basis points from 4.00 in December.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 4.06 percent, a decrease of 13 basis points from 4.19 in December.
The effective interest rate on all mortgage loans was 4.04 percent in January, down 11 basis points from 4.15 percent in December. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
The average loan amount for all loans was $291,300 in January, down $7,000 from $298,300 in December.
The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders index was 3.88 percent for loans closed in late January, down 10 basis points from 3.98 percent in December.
The average interest rate on all mortgage loans was 3.89 percent, down 11 basis points from 4.00 in December.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 4.06 percent, a decrease of 13 basis points from 4.19 in December.
The effective interest rate on all mortgage loans was 4.04 percent in January, down 11 basis points from 4.15 percent in December. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
The average loan amount for all loans was $291,300 in January, down $7,000 from $298,300 in December.
Thursday, January 29, 2015
FHFA Index Shows Mortgage Interest Rates Decreased Slightly in December
The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders index was 3.98 percent for loans closed in late December, down 2 basis points from 4.00 percent in November.
The average interest rate on all mortgage loans was 4.00 percent, down 1 basis point from 4.01 in November.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 4.19 percent, a decrease of 5 basis points from 4.24 in November.
The effective interest rate on all mortgage loans was 4.15 percent in December, down 1 basis point from 4.16 percent in November. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
The average loan amount for all loans was $298,300 in December, up $4,700 from $293,600 in November.
Thursday, January 8, 2015
President Obama Announces Cuts in FHA Mortgage Insurance Premiums
In a move that will help first-time home buyers, President Obama announced today that the Federal Housing Administration (FHA) will reduce its annual mortgage insurance premiums by 0.5 percentage points from 1.35 percent to 0.85 percent during an address in Phoenix.
A fact sheet released by the White Housesays this reduction in premiums will produce an average savings of $900 annually for all new FHA borrowers and that the lowered premiums will create opportunities for 250,000 new home owners to purchase a home over the next three years.
“In recent years, many aspiring home owners have been waiting on the sidelines before buying a new home,” the fact sheet states. “By making mortgages more affordable and helping create further confidence among those wanting to buy a home, the FHA premium reduction will help hundreds of thousands of additional families own a home for the first time.”
Your Home Builders Association supports this action and has previously called on FHA to lower its insurance fees to further boost the housing recovery and reduce the cost of creditworthy borrowers. National Association of Home Builders Chairman Kevin Kelly, who attended the Phoenix event, issued the following statement after Obama spoke:
“NAHB commends the President for taking action to reduce FHA’s annual mortgage insurance premiums by 50 basis points to 0.85 percent. Lower premiums will make home loans more affordable for qualified borrowers, particularly first-time buyers, and help to alleviate tight credit conditions in the mortgage market. This prudent course reflects a recent actuarial report that FHA is back in black and strengthening its financial health. The new premium structure will allow FHA to continue building its reserves.”
A fact sheet released by the White Housesays this reduction in premiums will produce an average savings of $900 annually for all new FHA borrowers and that the lowered premiums will create opportunities for 250,000 new home owners to purchase a home over the next three years.
“In recent years, many aspiring home owners have been waiting on the sidelines before buying a new home,” the fact sheet states. “By making mortgages more affordable and helping create further confidence among those wanting to buy a home, the FHA premium reduction will help hundreds of thousands of additional families own a home for the first time.”
Your Home Builders Association supports this action and has previously called on FHA to lower its insurance fees to further boost the housing recovery and reduce the cost of creditworthy borrowers. National Association of Home Builders Chairman Kevin Kelly, who attended the Phoenix event, issued the following statement after Obama spoke:
“NAHB commends the President for taking action to reduce FHA’s annual mortgage insurance premiums by 50 basis points to 0.85 percent. Lower premiums will make home loans more affordable for qualified borrowers, particularly first-time buyers, and help to alleviate tight credit conditions in the mortgage market. This prudent course reflects a recent actuarial report that FHA is back in black and strengthening its financial health. The new premium structure will allow FHA to continue building its reserves.”
Tuesday, December 30, 2014
FHFA Index Shows Mortgage Interest Rates Decrease in November
Nationally, interest rates on conventional purchase-money mortgages decreased from October to November, according to several indices of new mortgage contracts.
The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders index was 4.00 percent for loans closed in late November, down 11 basis points from 4.11 percent in October.
The average interest rate on all mortgage loans was 4.01 percent, down 10 basis points from 4.11 in October.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 4.24 percent, a decrease of 8 basis points from 4.32 in October.
The effective interest rate on all mortgage loans was 4.16 percent in November, down 11 basis points from 4.27 percent in November. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
The average loan amount for all loans was $293,600 in November, up $8,600 from $285,000 in October.
Thursday, October 30, 2014
FHFA Index Shows Mortgage Interest Rates Continue To Decline in September
Nationally, interest rates on conventional purchase-money mortgages decreased slightly from August to September, according to several indices of new mortgage contracts.
The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders index was 4.06 percent for loans closed in late September, down 2 basis points from 4.08 percent in August.
The average interest rate on all mortgage loans was 4.07 percent, down 2 basis points from 4.09 in August.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 4.31 percent, a decrease of 2 basis points from 4.33 in August.
The effective interest rate on all mortgage loans was 4.22 percent in September, down 2 basis points from 4.24 percent in August. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
The average loan amount for all loans was $281,000 in September, down $6,100 from $287,100 in August.
To find the complete contract rate series, go to www.fhfa.gov/Default.aspx?Page=251.
The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders index was 4.06 percent for loans closed in late September, down 2 basis points from 4.08 percent in August.
The average interest rate on all mortgage loans was 4.07 percent, down 2 basis points from 4.09 in August.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 4.31 percent, a decrease of 2 basis points from 4.33 in August.
The effective interest rate on all mortgage loans was 4.22 percent in September, down 2 basis points from 4.24 percent in August. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
The average loan amount for all loans was $281,000 in September, down $6,100 from $287,100 in August.
To find the complete contract rate series, go to www.fhfa.gov/Default.aspx?Page=251.
Tuesday, September 30, 2014
FHFA Index Shows Mortgage Interest Rates Flat in August
Nationally, interest rates on conventional purchase-money mortgages decreased slightly from July to August, according to several indices of new mortgage contracts.
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 August, down 1 basis point from 4.09 percent in July.
The average interest rate on all mortgage loans was 4.09 percent, reflecting no change from July.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 4.33 percent, a decrease of 1 basis point from 4.34 in July.
The effective interest rate on all mortgage loans was 4.24 percent in August, down 1 basis point from 4.25 percent in July. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
The average loan amount for all loans was $287,100 in August, down $700 from $287,800 in July.
Thursday, July 31, 2014
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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