Data from the Federal Housing Finance Agency shows that the average effective interest rate on conventional mortgages to purchase new homes dropped below four percent, the NAHB reports.
The average size of conventional mortgages used to purchase new homes and the average price of the homes have been drifting upward, a trend that continued in February.
The average loan amount increased from $331,700 to $338,600, while the average new home price increased from $440,300 to $449,400.
Delaware-based Schell Brothers, our 2023 Builder of the Year, brings a refreshing approach to delivering homes and measuring success with an overriding mission of happiness
NAHB Chairman's Message: In a challenging business environment for home builders, and with higher housing costs for families, the National Association of Home Builders is working to help home builders better meet the nation's housing needs
Sure there are challenges, but overall, Pro Builder's annual Housing Forecast Survey finds home builders are optimistic about the coming year
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