by Michael Dey | Feb 1, 2019 | Blog, Housing Economics
Nationally, interest rates on conventional purchase-money mortgages were nearly flat from November to December, 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 4.83 percent for loans closed in late December, down 3 basis points from 4.86 percent in November.
The average interest rate on all mortgage loans was 4.82 percent, unchanged from November.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $453,100 or less was 4.98 percent, down 1 basis point from 4.99 in November.
The effective interest rate on all mortgage loans was 4.92 percent in December, up 1 basis point from 4.91 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 $318,600 in December, unchanged from November.
by Michael Dey | Dec 27, 2018 | Blog, Housing Economics
Nationally, interest rates on conventional purchase-money mortgages increased 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 4.86 percent for loans closed in late November, up 11 basis points from 4.75 percent in October.
The average interest rate on all mortgage loans was 4.82 percent, up 10 basis points from 4.72 in October.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $453,100 or less was 4.99 percent, up 12 basis points from 4.87 in October.
The effective interest rate on all mortgage loans was 4.91 percent in November, up 10 basis points from 4.81 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 $318,600 in November, up $3,500 from $315,100 in October.
by Michael Dey | Aug 29, 2017 | Uncategorized
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.
by Michael Dey | Jul 27, 2017 | Uncategorized
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.
by Michael Dey | Jul 24, 2017 | Uncategorized
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.
