Interest rates declined in September, but only slightly, according to data released by the Federal Housing Finance Agency and reported by NAHB
The average contract rate on conventional loans used to purchase newly built single-family homes edged down by two basis points, from 4% to 3.98%. Also, the average initial fees and charges on the loans also moved down, from 1.23 to 1.16%.But not all numbers dipped, according to the FHFA:The average size of the conventional mortgages used to purchase new homes surged in September, to $358,200. This is a 3.7% increase from August and represents an all-time high. The previous high of $352,500 was posted in June of this year.