Check Inman every day for the daily version of this market roundup.
Mortgage rates:
[graphiq id=”b2w6fmfIyNL” title=”30-Year Fixed Rate Mortgage Rates for the Past 6 Months” width=”600″ height=”400″ url=”https://w.graphiq.com/w/b2w6fmfIyNL” link=”http://mortgage-lenders.credio.com” link_text=”30-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio”]
[graphiq id=”2NvK9Bl9HIF” title=”15-Year Fixed Rate Mortgage Rates for the Past 6 Months” width=”600″ height=”400″ url=”https://w.graphiq.com/w/2NvK9Bl9HIF” link=”http://mortgage-lenders.credio.com” link_text=”15-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio”]
Home equity rates:
[graphiq id=”kPkTJrAnX5r” title=”Average Home Equity Loan Bank Rates by State” width=”600″ height=”465″ url=”https://w.graphiq.com/w/kPkTJrAnX5r” link=”http://mortgage-lenders.credio.com” link_text=”Average Home Equity Loan Bank Rates by State | Credio”]
[graphiq id=”dP0v3iYOnH” title=”Average Home Equity Loan Credit Union Rates by State” width=”600″ height=”465″ url=”https://w.graphiq.com/w/dP0v3iYOnH” link=”http://mortgage-lenders.credio.com” link_text=”Average Home Equity Loan Credit Union Rates by State | Credio”]
Thursday, June 30:
Freddie Mac’s Primary Mortgage Market Survey:
- Average fixed mortgage rates dropped to 3.48 percent.
- This is 17 basis points from the November 2012 all-time record low: 3.31 percent.
- Last week, average 30-year fixed-rate mortgages were 3.56 percent.
Ten-X Residential Real Estate Nowcast for June 2016:
- Existing home sales will fall between seasonally adjusted annual rates of 5.38 and 5.74 million, with a targeted number of 5.56 million.
- This is a slight 0.5 percent increase from May.
- It also indicates a 1.4 percent year-over-year gain.
Wednesday, June 29:
HSH.com’s ‘Mortgage Rates Radar’:
- The average rate for conforming 30-year fixed-rate mortgages rose by one basis point (0.01 percent) week-over-week to 3.61 percent.
- The average rate for conforming 5/1-year adjustable-rate mortgage rose by one basis point (0.01 percent) week-over-week to 2.85 percent.
Freddie Mac’s Multi-Indicator Market Index (MiMi):
- The national MiMi value stands at 84.1.
- This is up 0.27 percent from March to April.
- On a year-over-year basis, the national MiMi value has improved 7.37 percent.
Mortgage Bankers Association’s Weekly Applications Survey:
- The Market Composite Index, a measure of mortgage loan application volume, decreased 2.6 percent on a seasonally adjusted basis from one week earlier.
- On an unadjusted basis, the Index decreased 3 percent compared with the previous week.
- The refinance share of mortgage activity increased to 58.1 percent of total applications from 57.7 percent the previous week.
Federal Housing Finance Agency’s mortgage interest rates for May 2016:
- The index for the national average contract mortgage rate for previously occupied homes by combined lenders was 3.70 percent for loans closed in late May, down 5 basis points from 3.75 percent in April.
- The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 3.89 percent, down 5 basis points from 3.94 in April.
- The average loan amount for all loans was $329,500 in May, up $7,100 from $322,400 in April.
National Average Contract Mortgage Rate for Previously Occupied Homes May 2015 – May 2016
Tuesday, June 28:
The Conference Board’s Consumer Confidence Index for June 2016:
- The index for June stands at 98.0.
- This is up from 92.4 in May.
- The Present Situation Index increased from 113.2 to 118.3, while the Expectations Index rose from 78.5 to 84.5 in June.
S&P/Case-Shiller Home Price Indices for April 2016:
- The National Home Price Index, covering all nine U.S. census divisions, reported a 5.0 percent year-over-year gain in April.
- This is a slower rate than March’s 5.1 percent annual gain.
- Before seasonal adjustment, the National Index posted a month-over-month gain of 1.0 percent in April.
Monday, June 27:
Campbell/Inside Mortgage Finance HousingPulse Tracking Survey:
- First-time homebuyers accounted for 40.8 percent of home purchases in May.
- This is the highest level seen in more than five years.
- Real estate owned properties and short sales accounted for a combined 18.0 percent share of home sales in May, down from a 20.3 percent share in May 2015.
Black Knight’s home price index for April 2016:
- The U.S. home price index was at $260,000.
- This is up 30.4 percent from the market’s bottom and is 2.9 percent lower than the June 2006 market peak.
- Washington led all states with 1.9 percent appreciation month-over-month.
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