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

  • Mortgage applications for new home purchases increased 2.4 percent year-over-year.
  • Applications decreased by 8 percent month-over-month.
  • The average loan size of new homes decreased from $326,175 in June to $325,843 in July.

Mortgage Bankers Association’s National Delinquency Survey:

  • The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to 4.66 percent of all loans at the end of Q2 2016.
  • The percentage of loans on which foreclosure actions were started during the second quarter was 0.32 percent, a decrease of three basis points from the previous quarter, and down eight basis points from one year ago.
  • This foreclosure starts rate was at its lowest level since the second quarter of 2000.

Freddie Mac’s Primary Mortgage Market Survey:

  • The 30-year fixed-rate mortgage (FRM) averaged 3.45 percent with an average 0.5 point for the week ending August 11, 2016.
  • This is up from last week when it averaged 3.43 percent.
  • A year ago at this time, the 30-year FRM averaged 3.94 percent.

pmms_chart_lg

Mortgage rates:

[graphiq id=”b2w6fmfIyNL” title=”30-Year Fixed Rate Mortgage Rates for the Past 6 Months” width=”600″ height=”400″ url=”https://w.graphiq.com/w/b2w6fmfIyNL” link=”http://mortgage-lenders.credio.com” link_text=”30-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio”]

[graphiq id=”2NvK9Bl9HIF” title=”15-Year Fixed Rate Mortgage Rates for the Past 6 Months” width=”600″ height=”400″ url=”https://w.graphiq.com/w/2NvK9Bl9HIF” link=”http://mortgage-lenders.credio.com” link_text=”15-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio”]

 

Home equity rates:

[graphiq id=”kPkTJrAnX5r” title=”Average Home Equity Loan Bank Rates by State” width=”600″ height=”465″ url=”https://w.graphiq.com/w/kPkTJrAnX5r” link=”http://mortgage-lenders.credio.com” link_text=”Average Home Equity Loan Bank Rates by State | Credio”]

[graphiq id=”dP0v3iYOnH” title=”Average Home Equity Loan Credit Union Rates by State” width=”600″ height=”465″ url=”https://w.graphiq.com/w/dP0v3iYOnH” link=”http://mortgage-lenders.credio.com” link_text=”Average Home Equity Loan Credit Union Rates by State | Credio”]

Most recent market news:

National Association of Realtors’ Metropolitan Median Area Prices and Affordability for Q2 2016:

  • 148 out of the 178 metropolitan statistical areas (MSAs) measured — a total of 83 percent — experienced median home price growth year-over-year, down slightly from the 87 percent of markets that had increases in the first quarter.
  • 25 MSAs had double-digit year-over-year median home price gains, a small decrease from the first quarter’s 28 metro areas.
  • Until this quarter, the peak existing single-family home price was $229,400, recorded in Q2 of last year. However, Q2 2016 surpassed that number by 4.9 percent, registering a median single-family home price of $240,700.

Screen Shot 2016-08-10 at 8.40.45 AM

Mortgage Bankers Association’s weekly mortgage applications data:

  • Mortgage applications increased 7.1 percent from one week earlier.
  • The Refinance Index increased 10 percent week-over-week.
  • The seasonally adjusted Purchase Index increased 3 percent week-over-week.

Email market reports to press@inman.com.

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