The Mortgage Bankers Association Builder Application Survey data for April 2015 shows that March and April builder applications were at their highest levels since the MBA began tracking them in August 2012, indicating that borrowers who were able to enter the market got a head start on the traditional spring buying season.
Now is the time to buy. And AHFA can help. We offer programs to provide down payment assistance and tax credits that help low- to moderate-income buyers purchase a home. The generous sales price and income limits make qualifying easy.
Alabama's middle class is booming, according to personal finance and economics website NerdWallet.
Placing second on their list was Athens--where middle class residents have increased their share of income by 8.56 percent since 2007. The average middle class household income in the north Alabama town is now $51,046, while average housing costs are only $670 a month.
Enterprise, Tuscaloosa and Northport also made the top 100.
Habitat for Humanity Greater Birmingham teamed up with 11 builders to build 11 homes in one week. During this year’s Home Builders Blitz, 11 families achieved their dream of homeownership, thanks to the skilled labor provided by the local professional homebuilders and construction companies. AHFA was proud to help sponsor this year's blitz build.
The Mortgage Bankers Association is reporting that delinquency rates for mortgage loans have fallen to their lowest levels since second quarter 2007. The MBA National Delinquency Survey said the delinquency rate fell to 5.54 percent of all loans outstanding at the end of the first quarter, seasonally adjusted, down by 14 basis points from the previous quarter and 57 basis points from one year ago.
These national figures coincide with AHFA posting its lowest-ever delinquency ratios at the close of the first quarter of 2015.
ServiSolutions, the mortgage servicing department of AHFA, reported a total delinquency ratio of 3.9 percent as of March 31. This marks AHFA's lowest total delinquency ratio ever and a significant decrease from the average delinquency ratios of approximately 17 percent that were being reported when ServiSolutions acquired the portfolio and began servicing in 2005.
The Park at Wood Station, an AHFA-financed development in Birmingham's Woodlawn neighborhood, is accepting applications from potential residents. More than 500 people have expressed interest in the 64-unit mixed income residential community that broke ground last July. The development received more than $1.1 million in AHFA-administered Housing Credits.