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Daily market update: March 1, 2016

Mortgage rates plus all the latest daily real estate market news

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

U.S. Census Bureau’s January 2016 Construction Spending:

  • Spending on private construction was at a seasonally adjusted rate of $831.4 billion.
  • This is 0.5 percent above the revised December estimate of $827.3 billion.
  • Residential construction was $433.2 billion in January, the same month-over-month as December.

CoreLogic’s January 2016 Home Price Insights Report:

  • Home prices rose 1.3 percent month-over-month.
  • Home prices rose 6.9 percent year-over-year.
  • This is the 47th month of consecutive year-over-year increase, but the returns are no longer double-digit.

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Mortgage rates:

 

Home equity rates:

Last week’s most recent market news:

National Association of Realtors Pending Home Sale Index (PHSI) for January 2016:

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  • The PHSI declined 2.5 percent to 106.0 in January.
  • This is 1.4 percent above January 2015 (104.5).
  • The index has increased year-over-year for 17 consecutive months, but January’s gain was the second-smallest.

Black Knight Financial Services’ Home Price Index for December 2015:

  • The home price index in the U.S. was $253,000.
  • This is down 0.1 percent month-over-month.
  • However, the index is up 5.5 percent year-over-year.

Email market reports to press@inman.com.