Mortgage rates plus all the latest real estate market news.

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

WalletHub’s most and least energy-efficient states:

  • New York, Vermont and Minnesota were the most energy-efficient states.
  • Texas, Louisiana and South Carolina were the least energy-efficient states.
  • WalletHub measured the consumption of home and car energy in 48 states; Alaska and Hawaii were excluded from this analysis.

Source: WalletHub

Livability’s 10 Best Cities for Singles:

  • Carrboro, North Carolina; Hoboken, New Jersey; West Hollywood, California were the top three cities for singles.
  • Oxford, Mississippi; San Marcos, Texas; Ypsilanti, Michigan; and Ames, Iowa were ranked 4 through 7.
  • Miami Beach, Florida; Athens, Georgia; and Moscow, Idaho took spots 8 through 10.

Black Knight Financial Services’ August Mortgage Monitor Report:

  • Cash-out refinances were up 68 percent year-over-year in August 2015.
  • The average borrower was tapping $67,000 in equity.
  • Though they’re at the highest volume since 2010, cash-out refinances were still almost 80 percent below 2005 peak levels.

black-knight-august-mortgages-2015

 

 

Weekly mortgage rates:

Powered by MortgageCalculator.org

Powered by MortgageCalculator.org

Last week’s most recent market news:

RealtyTrac’s “Why Homes Are More Affordable With Home Prices Higher” report:

  • Home prices in the first quarter of the year hit their most affordable level in two years.
  • The average interest rate on a 30-year fixed rate mortgage dropped 57 basis points, or 13 percent from the first quarter of 2014 to the first quarter of 2015.
  • The drop in interest rates — along with wage growth outpacing home price appreciation in 32 percent of counties — meant buying a home in the first quarter required a smaller share of the average wage compared to a year ago.

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U.S. Census Bureau’s August 2015 construction report:

  • Construction spending during August was estimated at a seasonally adjusted annual rate of $1.09 trillion.
  • This is a 13.7 percent increase over August 2014’s estimate of $955 billion.
  • From January 2015 to August 2015, construction spending comprised $683.4 billion.

Freddie Mac’s Primary Mortgage Market Survey:

  • The rate for 30-year fixed-rate mortgages was 3.85 percent.
  • The rate for 15-year fixed-rate mortgages was 3.07 percent.
  • The rate for five-year Treasury-indexed hybrid adjustable-rate mortgages was 2.91 percent.

pmms_chart

 

Send market reports to press@inman.com.

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