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Daily market update: April 7, 2016

Mortgage rates plus all the latest daily real estate market news

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

Mortgage Bankers Association’s Mortgage Credit Availability Index for March 2016:

  • Mortgage credit availability decreased 0.2 percent to 123.5 in March.
  • The Government MCAI saw the greatest loosening (up 0.9 percent).
  • The Conventional MCAI saw the greatest tightening (down 1.6 percent).

mortgage-credit-availability

Fannie Mae Home Purchase Sentiment Index (HPSI) for March 2016:

  • The HPSI fell 2.5 percent to 80.2.
  • More Americans (33 percent) say it’s a bad time to buy, 2 percentage points down.
  • Those who say it’s a good time to sell fell 8 percentage points to negative 1 percent.

hpsi-040716

Mortgage rates:

 

Home equity rates:

Yesterday’s most recent market news:

Mortgage Bankers Association’s Weekly Applications Survey:

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  • Mortgage applications increased 2.7 percent week-over-week (on an adjusted basis) for the week ending April 1, 2016.
  • On an unadjusted basis, the Market Composite Index increased 3 percent week-over-week.
  • The Refinance Index increased 7 percent week-over-week.

Email market reports to press@inman.com.