Markets & Economy

Real estate market recap, Feb. 8-12, 2016

The big news in real estate markets, recapped for your convenience

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Check Inman every day for the daily version of this market roundup.

Mortgage rates:

Home equity rates:

Thursday, Feb. 11:

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

  • Mortgage applications for new home purchases increased 14 percent month-over-month (not seasonally adjusted).
  • Conventional loans comprised 67.4 percent of loan applications, and FHA comprised 19.5 percent.
  • The seasonally adjusted annual rate for single-family home sales was 499,000 units.

Freddie Mac’s Primary Mortgage Market Survey:

  • The 30-year fixed-rate mortgage averaged 3.65 percent with an average 0.5 point for the week ending February 11, 2016.
  • This is down from 3.72 percent last week.
  • It’s also slightly down from 3.69 percent last year.

pmms_chart

Wednesday, Feb. 10:

Agents can do more business with millennials by understanding their preferences and behaviors

National Association of Realtors Q4 2016 Metro Home Prices:

  • The median existing single-family home price increased in 81 percent of measured markets.
  • 34 areas (19 percent) recorded lower median prices than a year ago.
  • An average of 89 percent of measured metro areas saw increasing home prices in 2015.

Tuesday, Feb. 9:

Quicken Loans’ Home Price Perception Index for January 2016:

  • Appraised values were, on average, 1.75 percent lower than homeowner expectations.
  • The gap between appraisal and homeowner estimates narrowed for the fifth month in a row.
  • Home values fell 0.42 percent month-over-month in January, but were up 3.37 percent year-over-year.

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CoreLogic’s December 2015 Foreclosure Report:

  • Completed foreclosures were down 22.6 percent year-over-year in December 2015.
  • Foreclosure inventory was down 23.8 percent year-over-year.
  • 1.1 percent of all homes with a mortgage were part of the foreclosure inventory.

report_highlights_nfr_2015_12_dec

Monday, Feb. 8:

Fannie Mae’s January 2016 Home Purchase Sentiment Index (HPSI):

  • The HPSI decreased 1.7 points month-over-month.
  • This puts January’s HPSI at 81.5.
  • The share of consumers who reported their net income was significantly higher than one year ago fell 3 percentage points month-over-month.

hpsi-020816

The February preliminary Money Anxiety Index:

  • The February preliminary Money Anxiety Index isĀ 62.4.
  • This is the same as January’s index.
  • ThisĀ indicates uncertainty and confusion among consumers about the economy.
A graph outlining the February preliminary Money Anxiety Index

February preliminary Money Anxiety Index

press@inman.com.