- 30-year fixed-rate mortgages averaged 3.84 percent with an average 0.6 point for the week ending Aug. 27, 2015, down from 3.93 percent last week.
- 15-year fixed-rate mortgages averaged 3.06 percent with an average 0.6 point for the week ending Aug. 27, 2015, down from 3.15 percent last week.
- Five-year Treasury-indexed hybrid adjustable-rate mortgages averaged 2.9 percent with an average 0.4 point for the week ending Aug. 27, 2015, down from 2.94 percent last week.
- The index value for pending home sales was 110.948, which represents a 0.5 percent increase month over month.
- Last month’s index was up from the 110.369 index value in June.
- The pending home sale index peaked at 112.3 in May 2015.
We’ll add more market news briefs throughout the day. Check back to read the latest.
Yesterday’s market news:
- The national MiMi shows an improvement of 1.3 percent from May to June and a three-month improvement of approximately 2.3 percent.
- Year over year, the national MiMi value has improved by 5.4 percent.
- It is still off from its high of 121.7 at the current index of 80.3.
- Smaller markets account for the majority of top markets for real estate agents.
- One of the last recovery markets, Las Vegas appears to be on the rebound.
- Only five primary markets — Denver, Las Vegas, Nashville, Sacramento and Charlotte — were in the top 20.
- Competition in hot markets may be slowing down, according to a recent Trulia research report.
- Nationally, 63 percent of homes listed for sale on June 17 were still on the market on Aug. 17, which is up a bit from 61 percent for the same period last year.
- California continues to reign as the state with the fastest-moving markets.
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