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New-Home Sales Up after August Slip

Oct 26, 2016 by

New-home sales activity is up, coming in at a rate of 593,000 in September, roughly 3 percent higher than the August rate of 575,000, the U.S. Census Bureau and Department of Housing and Urban Development (HUD) report. September’s rate, which represents 4.8-months supply, is approximately 30 percent higher than the September 2015 estimate of 457,000.

The uptick in new-home sales activity comes amid a strong showing of existing-home sales—as reported by the National Association of REALTORS®, existing-home sales rose 3.2 percent to 5.47 million in September, marking their highest pace since June. Single-family starts, as well, surged 8.1 percent ahead of estimates. New-home sales in August slipped 7.6 percent.

According to the Census and HUD, the average sales price of a new home sold in September was $ 377,700, while the median sales price was $ 313,500.

For more information, please visit www.hud.gov.

RISMedia

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Mortgage Rates Slip Lower to 3.55% After Jobs Report

Apr 8, 2015 by

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ZillowThe weekly mortgage rate chart illustrates the average 30-year fixed interest rate in six-hour intervals.

By Lauren Braun

Mortgage rates for 30-year fixed loans fell this week, with the current rate borrowers were quoted on Zillow Mortgages at 3.55 percent, down 7 basis points from last week.

The 30-year fixed mortgage rate fell throughout the week, reaching 3.47 percent on Sunday before returning to the current rate.

“Rates fell sharply around Friday’s highly anticipated jobs report, which showed much weaker job creation and modestly higher wages than expected,” said Erin Lantz, vice president of mortgages at Zillow. “Looking ahead, we expect rates to be mostly flat, with reaction to last week’s headlines and international news driving rate movement this week.”

Additionally, the 15-year fixed mortgage rate was at 2.79 percent Tuesday. For 5/1 ARMs, the rate was 2.67 percent.

Check Zillow Mortgages for mortgage rate trends and up-to-the-minute mortgage rates for your state, or use the mortgage calculator to calculate monthly payments at the current rates.

 

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