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Daily market update: March 30, 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.

Freddie Mac’s Multi-Indicator Market Index (MiMi) for January 2016:

  • The national MiMi is at 82.7, 0.18 percent up from December and 1.46 percent up quarter-over-quarter.
  • On an annual basis, the national MiMi value is up 7.57 percent.
  • On an annual basis, the most improving states were Florida (+16.72%), Colorado (+15.56%), New Jersey (+14.61%), Nevada (+14.21%) and Oregon (+14.04%).

Mortgage Bankers Association’s Weekly Applications Survey:

  • Mortgage applications decreased 1.0 percent (seasonally adjusted) from the previous week.
  • The refinance share of mortgage activity decreased to 52.4 percent of total applications from 53.9 percent the previous week.
  • The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to 3.94 percent from 3.93 percent.

Mortgage rates:

 

Home equity rates:

Yesterday’s most recent market news:

Federal Housing Finance Agency’s February 2016 mortgage index:

  • The average interest rate on all mortgage loans was 3.89 percent, down from 3.97 in January.
  • The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 4.11 percent, down from 4.23 in January.
  • The average loan amount for all loans was $316,700 in February, up from $310,400 in January.

NACMR-March292016

S&P/Case-Shiller Home Price Index for January 2016:

  • Home prices increased 5.4 percent year-over-year in January 2016.
  • Before seasonal adjustment, home prices were unchanged month-over-month.
  • After seasonal adjustment, home prices were up 0.5 percent month-over-month.

Email market reports to press@inman.com.

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