100% LTV Mortgages & Today's Low Rates Boost U.S. Housing Starts
Single-family housing starts increased in April after a slow start to the year.
As compared to the month prior, starts increased one-hundred-three thousand to reach 733,000 units started on a seasonally-adjusted annualized basis. April’s reading sits above the six- and twelve-month rolling averages for the housing market metric firmly.
The combination of an abundance of low- and no-downpayment mortgages for today’s buyers; today’s mortgage rates at ultra-low levels; and, a recent surge in buyer foot traffic has kept builder confidence near its highest point since mid-last decade.
It’s an excellent time to be shopping for a home.