Here’s the latest market news, summarized and recapped:

Friday’s daily mortgage averages:

  • 30-year fixed: 3.90 percent
    • Thursday: 3.99 percent
  • 15-year fixed: 3.03 percent
    • Thursday: 3.02 percent
  • 1-year adjustable-rate: 2.62 percent
    • Thursday: 2.64 percent

BuildFax’s new residential and remodeling permit activity report:

  • Both new residential construction and remodeling activity — measured by building permits pulled — were down nationally in July when compared to June.
  • Year-over-year, new residential permit activity is up 3 percent, and remodeling has declined by 6 percent.

buildfax-new-construction

buildfax-residential-remodeling

Zillow’s first-time homebuyer survey:

  • Americans rent for an average of six years before they purchase their first homes.
  • Americans are also buying increasingly expensive first homes.
  • First-time buyers are older and less likely to be married than in the past.

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

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