Daily market update: March 15, 2016

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

Real Trends February 2016 Housing Market Report:

  • Housing sales increased 13.9 percent year-over-year.
  • This is the strongest year-over-year increase since June 2015.
  • Housing prices rose an average of 2.3 percent year-over-year.



FNC Residential Price Index for January 2016:

  • Year-over-year growth was at a 16-month high since October 2014.
  • Sales were down 0.3 percent from December.
  • However, sales were up 6.4 percent year-over-year from December 2015.

Mortgage rates:


Home equity rates:

Last week’s most recent market news:

CoreLogic’s Q4 2015 equity report:

  • 8.5 percent of mortgaged homes are in negative equity.
  • 1 million residential properties regained equity.
  • 9.5 million homes have less than 20 percent equity.


Mortgage Bankers Association’s New Homes Applications Survey for February 2016:

  • Mortgage applications for new home purchases increased 24 percent month-over-month (unadjusted).
  • Conventional loans comprised 67.7 percent of new-home loan applications; FHA loans 18.7 percent; USDA loans 0.8 percent and VA loans 12.8 percent.
  • The average loan size of new homes increased from $325,806 in January to $328,370 in February.

Freddie Mac’s Primary Mortgage Market Survey:

  • Mortgage rates for a 30-year fixed-rate mortgage (FRM) averaged 3.68 percent with an average 0.5 point for the week ending March 10, 2016.
  • This is up from last week, when it averaged 3.64 percent.
  • It’s down year-over-year, when the 30-year FRM averaged 3.86 percent.


Email market reports to press@inman.com.