Conventional Mortgages Riding High
NAHB economist David Logan has studied the most recent U.S. Census estimates on sources of financing for new home sales and finds that the share of mortgages financed through conventional products in the third quarter of 2016 rose to 74.1 percent, the highest level seen since 2008.
In contrast, cash sales accounted for the smallest portion they have since the second quarter of 2010. The portions financed with FHA and VA loans also declined, while the number of new homes sold fell 6 percent.
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