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Daily market update: Feb. 11, 2016

Mortgage rates plus all the latest daily real estate market news

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We’ll add more market news briefs throughout the day. Check back to read the latest.

Mortgage Bankers Association’s Builder Applications Survey for January 2016:

  • Mortgage applications for new home purchases increased 14 percent month-over-month (not seasonally adjusted).
  • Conventional loans comprised 67.4 percent of loan applications, and FHA comprised 19.5 percent.
  • The seasonally adjusted annual rate for single-family home sales was 499,000 units.

Freddie Mac’s Primary Mortgage Market Survey:

  • The 30-year fixed-rate mortgage averaged 3.65 percent with an average 0.5 point for the week ending February 11, 2016.
  • This is down from 3.72 percent last week.
  • It’s also slightly down from 3.69 percent last year.

pmms_chart

Mortgage rates:

 

Home equity rates:

 

Yesterday’s most recent market news:

National Association of Realtors Q4 2016 Metro Home Prices:

  • The median existing single-family home price increased in 81 percent of measured markets.
  • 34 areas (19 percent) recorded lower median prices than a year ago.
  • An average of 89 percent of measured metro areas saw increasing home prices in 2015.

Email market reports to press@inman.com.