AgentBrokerage

Daily market update: Feb. 25, 2016

Mortgage rates plus all the latest daily real estate market news

Power up your Indie Brokerage
Don't miss Indie Broker Summit SF, Aug 7, 2017

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

Federal Housing Finance Agency’s mortgage rate results for January 2016:

  • The national average contract mortgage rate for previously owned homes was 3.98 percent, up from 3.97 percent in December.
  • The average interest rate on all loans was 3.97 percent, up from 3.96 in December.
  • The average loan amount was $310,400, down from $318,000 in December.

Federal Housing Finance Agency’s fourth-quarter 2015 house price data:

  • House prices rose 1.4 percent quarter-over-quarter in the fourth quarter of 2015.
  • Year-over-year, prices were up 5.8 percent.
  • The FHFA seasonally adjusted monthly index for December was up 0.4 percent month-over-month.

Mortgage rates:

 

Home equity rates:

Yesterday’s most recent market news:

U.S. Census Bureau and Department of Housing and Urban Development’s new residential sales for January 2016:

  • Single-family home sales in January 2016 were at a seasonally adjusted annual rate of 494,000.
  • This is 9.2 percent below the revised December 2015 rate.
  • It’s also 5.2 percent below the January 2015 estimate.

Mortgage Bankers Association’s weekly mortgage applications survey:

  • The market composite index decreased 4.3 percent on a seasonally adjusted basis week-over-week.
  • The refinance index decreased 8 percent week-over-week.
  • The seasonally adjusted purchase index increased 2 percent week-over-week.

Freddie Mac’s Multi-Indicator Market Index (MiMi):

  • The MiMi purchase applications indicator increased 9 percent in 2015.
  • The national MiMi value is at 82.7.
  • Year-over-year, the national MiMi improved 7.65 percent.

Email market reports to press@inman.com.