Check Inman every day for the daily version of this market roundup.
Home equity rates:
Thursday, March 17:
- Home sales rose 4.8 percent year-over-year.
- The median sales price rose 5.9 percent year-over-year.
- We currently have 4.0 months supply of inventory.
- The 30-year fixed-rate mortgage averaged 3.73 percent with an average 0.5 point for the week ending March 17, 2016.
- This is up from 3.68 percent last year.
- A year ago, the 30-year fixed rate mortgage averaged 3.78 percent.
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- The home price index is up 6.9 percent year-over-year.
- Home equity is up $6 trillion since the Great Recession.
- Completed foreclosures are down 16.2 percent year-over-year.
Wednesday, March 16:
- Privately-owned building permits in February were at a seasonally adjusted annual rate of 1,167,000, 3.1 percent below the revised January rate but 6.3 percent above the February 2015 estimate.
- Privately-owned housing starts in February were at a seasonally adjusted annual rate of 1,178,000, 5.2 percent above January and 30.9 percent above February 2015.
- Privately-owned housing completions in February were at 1,016,000, 4.2 percent below the revised January estimate but 17.5 percent above the February 2015 rate.
- The Market Composite Index (which measures loan application volume) decreased 3.3 percent week-over-week on a seasonally adjusted basis.
- The Refinance Index decreased 6 percent week-over-week to its lowest level since August 2015.
- The seasonally adjusted Purchase Index increased 0.3 percent to its highest level since January 2016.
- The preliminary March index is 62.8, the same as the final reading in February.
- The jobs market is improving.
- However, global economic uncertainty is contributing to anxiety.
Tuesday, March 15:
- 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.
- 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.