by ShoesOptional | Jan 27, 2017 | Uncategorized
From the Federal Housing Finance Agency:
Nationally, interest rates on conventional purchase-money mortgages increased 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 4.00 percent for loans closed in late December, up 34 basis points from 3.66 percent in November.
The average interest rate on all mortgage loans was 3.91 percent, up 27 basis points from 3.64 in November.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 4.08 percent, up 28 basis points from 3.80 in November.
The effective interest rate on all mortgage loans was 3.99 percent in December, up 22 basis points from 3.77 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 $319,100 in December, up $4,400 from $314,700 in November.
Federal Housing Finance Agency will release January index values Tuesday, February 28, 2017.
To find the complete contract rate series, go to https://www.fhfa.gov/DataTools/Downloads/Pages/Monthly-Interest-Rate-Data.aspx.
Source: FHFA
Technical note: The indices are based on a small monthly survey of mortgage lenders, which may not be representative. The sample is not a statistical sample but is rather a convenience sample. Survey respondents were asked to report terms and conditions of all conventional, single-family, fully amortized purchase-money loans closed during the last five working days of the month. Unless otherwise specified, the indices include 15-year mortgages and adjustable-rate mortgages. The indices do not include mortgages guaranteed or insured by either the Federal Housing Administration or the U.S. Department of Veterans Affairs. The indices also exclude refinancing loans and balloon loans. December 2016 values are based on 3,727 reported loans from 13 lenders, which include savings associations, mortgage companies, commercial banks, and mutual savings banks.
by ShoesOptional | Oct 31, 2016 | Uncategorized
From the Federal Housing Finance Agency:
Nationally, interest rates on conventional purchase-money mortgages were nearly flat 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 3.61 percent for loans closed in late September, up 3 basis points from 3.58 percent in August.
The average interest rate on all mortgage loans was 3.60 percent, up 1 basis point from 3.59 in August.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 3.73 percent, down 1 basis point from 3.74 in August.
The effective interest rate on all mortgage loans was 3.73 percent in September, up 1 basis point from 3.72 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 $302,900 in September, down $19,800 from $322,700 in August.
by ShoesOptional | Sep 29, 2016 | Uncategorized
From the Federal Housing Finance Agency:
Nationally, interest rates on conventional purchase-money mortgages decreased 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 3.58 percent for loans closed in late August, down 4 basis points from 3.62 percent in July.
The average interest rate on all mortgage loans was 3.59 percent, down 4 basis points from 3.63 in July.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 3.74 percent, down 6 basis points from 3.80 in July.
The effective interest rate on all mortgage loans was 3.72 percent in August, down 5 basis points from 3.77 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 $322,700 in August, down $3,000 from $325,700 in July.
by ShoesOptional | May 11, 2016 | Uncategorized
From the Federal Housing Finance Agency:
Nationally, interest rates on conventional purchase-money mortgages decreased 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 3.73 percent for loans closed in late March, down 15 basis points from 3.88 percent in February.
The average interest rate on all mortgage loans was 3.76 percent, down 13 basis points from 3.89 in February.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 3.95 percent, down 16 basis points from 4.11 in February.
The effective interest rate on all mortgage loans was 3.88 percent in March, down 15 basis points from 4.03 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 $325,000 in March, up $8,300 from $316,700 in February.
Federal Housing Finance Agency will release April index values Thursday, May 26, 2016.
Technical note: The indices are based on a small monthly survey of mortgage lenders, which may not be representative. The sample is not a statistical sample but is rather a convenience sample. Survey respondents were asked to report terms and conditions of all conventional, single-family, fully amortized purchase-money loans closed during the last five working days of the month. Unless otherwise specified, the indices include 15-year mortgages and adjustable-rate mortgages. The indices do not include mortgages guaranteed or insured by either the Federal Housing Administration or the U.S. Department of Veterans Affairs. The indices also excluded refinancing loans and balloon loans. March 2016 values are based on 4,319 reported loans from 16 lenders, which include savings associations, mortgage companies, commercial banks, and mutual savings banks. 
by ShoesOptional | Apr 5, 2016 | Uncategorized
From the Federal Housing Finance Agency:
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 3.88 percent for loans closed in late February, down 10 basis points from 3.98 percent in January.
The average interest rate on all mortgage loans was 3.89 percent, down 8 basis points from 3.97 in January.
The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 4.11 percent, down 12 basis points from 4.23 in January.
The effective interest rate on all mortgage loans was 4.03 percent in February, down 7 basis points from 4.10 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 $316,700 in February, up $6,300 from $310,400 in January.
The Federal Housing Finance Agency will release March index values Thursday, April 28, 2016. To find the complete contract rate series, go to http://www.fhfa.gov/DataTools/Downloads/Pages/Monthly-Interest-Rate-Data.aspx.
Technical note: The indices are based on a small monthly survey of mortgage lenders, which may not be representative. The sample is not a statistical sample but is rather a convenience sample. Survey respondents were asked to report terms and conditions of all conventional, single-family, fully amortized purchase-money loans closed during the last five working days of the month. Unless otherwise specified, the indices include 15-year mortgages and adjustable-rate mortgages. The indices do not include mortgages guaranteed or insured by either the Federal Housing Administration or the U.S. Department of Veterans Affairs. The indices also excluded refinancing loans and balloon loans. February 2016 values are based on 3,526 reported loans from 20 lenders, which include savings associations, mortgage companies, commercial banks, and mutual savings banks. 
