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
- 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.
- 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.