FHA’s share of new-home sales on the rise

SOURCE: Mortgage News Feed

Mortgages backed by the Federal Housing Administration are making up a greater share of sales of new single-family homes, according to recent government data, in a sign that economic conditions and government actions may be expanding the pool of buyers in the housing market.The U.S. Census Bureau reports that FHA, which insures mortgages with low down payments, backed 16% of sales of new single-family homes in the first quarter — the greatest proportion in two years.

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