Washington, D.C., November 30 -- The Federal Housing Finance Board reported today that the national average one-family house purchase price in October was up 8.5% from a year ago.
The average purchase price for a one-family home in October was $264,540. In October of 2003 the national average one-family house purchase price of $243,756.
The October 2004 data are based on 23,466 reported loans from 77 lenders, representing savings institutions, mortgage companies, and commercial banks.
The Federal Housing Finance Board also reported today that the average interest rate on conventional 30-year, fixed-rate, mortgage loans increased 1 basis point to 5.91 percent during October.
