Daily market update: March 31, 2016

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

Freddie Mac’s monthly volume summary for February 2016:

  • The total mortgage portfolio increased at an annualized rate of 1.8 percent.
  • Single-family refinance-loan purchase and guarantee volume was $10.9 billion in February.
  • Total number of loan modifications were 3,503 in February 2016 and 6,977 for the two months ended February 29, 2016.

Freddie Mac’s March 2016 monthly outlook:

  • The 30-year mortgage rate will stay below 4 percent until the second half of the year.
  • Multifamily and single-family housing starts will increase by 200,000 units to 1.3 million this year.
  • Home price appreciation should slow to 4.8 percent from 6 percent in 2016.
Housing market index for March 2016

Housing market index for March 2016

Mortgage rates:


Home equity rates:

Yesterday’s most recent market news:

Freddie Mac’s Multi-Indicator Market Index (MiMi) for January 2016:

  • The national MiMi is at 82.7, 0.18 percent up from December and 1.46 percent up quarter-over-quarter.
  • On an annual basis, the national MiMi value is up 7.57 percent.
  • On an annual basis, the most improving states were Florida (+16.72%), Colorado (+15.56%), New Jersey (+14.61%), Nevada (+14.21%) and Oregon (+14.04%).

Mortgage Bankers Association’s Weekly Applications Survey:

  • Mortgage applications decreased 1.0 percent (seasonally adjusted) from the previous week.
  • The refinance share of mortgage activity decreased to 52.4 percent of total applications from 53.9 percent the previous week.
  • The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to 3.94 percent from 3.93 percent.

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