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Mortgage applications for a newly constructed home were up a whopping 15.7% in February from a year ago, according to the Mortgage Bankers Association; and up by 1% from January.
Construction loans are short-term loans that you can use to build a new home. ... Interest rates: Construction loan interest rates are typically higher than traditional mortgage rates. This is ...
This is the biggest one-month drop in new home construction since April 2021, according to U.S. Census Bureau data. ... To combat high mortgage rates and home prices, ...
New construction home completions were at a seasonally adjusted annualized rate of 1.574 million, which is 8.7% above November and 13.2% above the completions a year ago.
A construction-to-permanent loan — also known as a one-time, single-close or construction-perm loan — is a type of mortgage for those building a home. It funds the purchase of land and the ...
During the past week, mortgage rates hovered around 8%, “so when you're talking about buying into the [5% range] that's a huge advantage for the new construction market,” Bachman says.
The government report also showed the construction pace of single-family housing rose 3.4% to an annualized 935,000 rate, marking the first increase in six months. Permits for single-family homes ...
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