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Daily market update: Feb. 29, 2016

Mortgage rates plus all the latest daily real estate market news

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

National Association of Realtors Pending Home Sale Index (PHSI) for January 2016:

  • The PHSI declined 2.5 percent to 106.0 in January.
  • This is 1.4 percent above January 2015 (104.5).
  • The index has increased year-over-year for 17 consecutive months, but January’s gain was the second-smallest.

Black Knight Financial Services’ Home Price Index for December 2015:

  • The home price index in the U.S. was $253,000.
  • This is down 0.1 percent month-over-month.
  • However, the index is up 5.5 percent year-over-year.

Mortgage rates:

 

Home equity rates:

Last week’s most recent market news:

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.

Email market reports to press@inman.com.

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