FHFA House Price Index Up 0.2 Percent in April

From the Federal Housing Finance Agency:

U.S. house prices rose in April, up 0.2 percent on a seasonally adjusted basis from the previous month, according to the Federal Housing Finance Agency monthly House Price Index. The previously reported 0.7 percent increase in March was revised upward to reflect a 0.8 percent increase.

The Federal Housing Finance Agency monthly House Price Index is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac. From April 2015 to April 2016, house prices were up 5.9 percent. Since October 2015, the national house price index level has surpassed the prior peak level from March 2007.

For the nine census divisions, seasonally adjusted monthly price changes from March 2016 to April 2016 ranged from -0.7 percent in the Middle Atlantic division to +1.4 percent in the New England division. The 12-month changes were all positive, ranging from +1.7 percentin the Middle Atlantic division to +8.6 percent in the Pacific division.

Monthly index values and appreciation rate estimates for recent periods are provided in the table and graphs on the following pages. Complete historical downloadable data and HPI release dates are available on the House Price Index page.

For detailed information on the monthly HPI, see House Price Index Frequently Asked Questions (FAQ). The next House Price Index report will be released July 21, 2016 and will include monthly data through May 2016.

FHFA Indices Show Mortgage Interest Rates Decreased in May

From the Federal Housing Finance Agency:

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 3.70 percent for loans closed in late May, down 5 basis points from 3.75 percent in April.

The average interest rate on all mortgage loans was 3.70 percent, down 5 basis points from 3.75 in April.

The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 3.89 percent, down 5 basis points from 3.94 in April.

The effective interest rate on all mortgage loans was 3.83 percent in May, down 6 basis points from 3.89 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 $329,500 in May, up $7,100 from $322,400 in April.

Federal Housing Finance Agency will release June index values Wednesday, July 27, 2016.

Did you know?

Did you know that the Home Builders Association of Greenville has a weekly column in the Greenville News Sunday paper? We offer tips to consumers regarding home maintenance, design trends, and the home buying process.

Additionally, each column features a Bridge Awards winner, community service project, or other special feature from the Association's activities. You can see the PDF version of all the past columns on our website.

Office Closed July 4th

Your Home Builders Association of Greenville office will be closed Monday, July 4th in honor of Independence Day. We hope you enjoy a wonderful weekend of family and friends as we celebrate our country's independence!

Building Codes Class Update

There is another building codes class being offered by the City of Greenville and the City of Greer that builders are encouraged to attend.

Buddy Skinner will host a workshop on the new codes on Thursday, July 21, 8 a.m. - 1 p.m. in the 1st floor conference room at City Hall. He will review and highlight the important code changes and offer his enforcement interpretations.

John McLeod Retiring, Party Planned for July 14

John McLeod, Chief Building Official for Greenville County, has announced his retirement effective July 15, 2016.

Greenville County and the Home Builders Association will host a reception in John's honor on Thursday, July 14, 2 p.m. until 4 p.m., at Greenville County Square in Conference Room D. Please plan to attend and see John into his retirement.

Verizon Deals Through National Purchasing Partners

If you are a member of the Home Builders Association of Greenville then you are eligible to create an account with the National Purchasing Partners, which provides great deals and discounts on national companies.

Verizon has some good offers for National Purchasing Partners corporate subscribers through the end of the month. Deals include:

• Receive a $150 instant discount with the purchase and activation of select 4G LTE devices on $24.99 or higher plans.
• Receive a minimum $100 trade-in account credit on a smartphone with the purchase/activation of any new 4GLTE smartphone.
• Receive a $150 bill credit when you activate a 4G LTE smartphone with a new two-year activation or renewal on $34.99 price plan or higher.

There are also deals on devices (when you activate a two-year voice with data plan of $24.99 or higher), including:

• Motorola Droid Maxx 2, Samsung Galaxy S5 (16 GB) and BlackBerry Classic for free.
• Brigadier by Kyocera and the LG G4 for $49.99.
• Motorola Droid Turbo 2 (32 GB) and Samsung Galaxy S 6 (32 GB) for $99.99.
• Novatel internet device for $0.

You can receive a minimum $200 trade-in account credit when you trade in a smartphone and purchase a Samsung Galaxy S7, S7 edge, S6 or Note 5 with a new 2-year activation.

If you would like to discuss your National Purchasing Partners membership, feel free to contact us directly at 800.810.3909 or customerservice@mynpp.com.