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  1. Characteristics of Conventional First Mortgage Loans for Purchase of  Single-Family Homes:1970-1988     Loan            Unit     1970    1975   1980   1985   1987   1988, Characteristic                                                   June 
  2.  
  3.   New Homes
  4.  
  5. Contract interest
  6.   rate               %        8.3     8.8   12.3   11.1    8.9    8.9
  7. Initial fees,
  8.   charges(1)         %       1.03    1.53   2.09   2.52   2.26   2.16
  9. Term to maturity    Years    25.1    27.0   28.1   27.0   27.8   27.5
  10. Loan to price                                           
  11.   ratio             Percent  71.7    76.2   73.2   77.1   75.2   73.8
  12. Purchase price      $1,000   35.5    44.7   83.2  105.0  137.2  152.0
  13.  
  14.   Existing Homes
  15.  
  16. Contract interest
  17.   rate               %        8.2     9.0   12.5   11.2    8.9    9.0
  18. Initial fees,
  19.   charges(1)         %        .92    1.16   1.91   2.50   2.02   1.86
  20. Term to maturity    Years    22.8    24.2   26.9   25.5   26.6   27.7
  21. Loan to price
  22.   ratio              %       71.1    73.5   73.5   75.7   75.4   77.2
  23. Purchase price      $1,000   30.0    39.2   68.3   92.7  117.7  123.7
  24.  
  25.  
  26. 1. Rate applies to any general or specific charges paid by borrower
  27.    or seller, in order to obtain a loan, except those for mortgage,
  28.    credit, life, or property insurance; for property transfer; and
  29.    for title search and insurance.
  30.  
  31. Source:U.S. Federal Home Loan Bank Board.
  32.