Markets & Economy

Real estate market recap, Feb. 22-26, 2016

The big news in real estate markets, recapped for your convenience

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Check Inman every day for the daily version of this market roundup.

Mortgage rates:

Home equity rates:

Thursday, Feb. 25:

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.

Wednesday, Feb. 24:

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.

Tuesday, Feb. 23:

National Association of Realtors existing-home sales for January 2016:

  • Existing-home sales were at a seasonally adjusted annual rate (SAAR) of 5.47 million in January 2016.
  • This is up 11.0 percent year over year.
  • The median existing-home price for all home types was $213,800.

January EHS Infographic

S&P/Case-Shiller Home Price Indices for December 2015:

  • The index rose 5.4 percent year-over-year in December.
  • Portland led the way in price increases (11.4 percent), followed by San Francisco (10.3 percent) and Denver (10.2 percent).
  • The national index rose 0.1 percent month-over-month.

Monday, Feb. 22:

Campbell/Inside Mortgage Finance HousingPulse Tracking Survey:

  • Between September and January, the total average closing time (including delays) increased for six types of mortgage financing.
  • The average closing time for purchase mortgages with a down payment of at least 20 percent backed by Fannie Mae or Freddie Mac increased 5 days from September to January.
  • Most home purchases continue to close on time, but the scheduled closing time has increased.

Black Knight Financial Corp’s “first look” at January 2016 mortgage data:

  • The total U.S. loan delinquency rate (30 or more days past due but not in foreclosure) was 5.09 percent, up 6.62 percent month-over-month but down 7.10 percent year-over-year.
  • The total U.S. foreclosure pre-sale inventory rate was 1.30 percent, down 4.53 percent month-over-month and 25.69 percent year-over-year.
  • Total foreclosure starts totaled 71,900, down 7.94 percent month-over-month and 22.94 percent year-over-year.

press@inman.com.