Check Inman every day for the daily version of this market roundup.
Home equity rates:
Friday, April 15:
- After January’s price drop, February’s prices were back up.
- February home prices were up 0.1 percent from January.
- Prices were up 5.7 percent year-over-year.
- Home sales were up 33.4 percent month-over-month in March 2016.
- March sales were up 3.6 percent year-over-year.
- The median home price among median sales prices in March was $204,000.
Thursday, April 14:
- The seasonally adjusted annualized rate of potential existing-home sales is 5.8 million.
- This represents a 90.9 percent increase from the market potential low point reached in December 2008.
- This is down 615,000 (SAAR) or 9.7 percent from the pre-recession peak of market potential, which occurred in July 2005.
- Mortgage rates are at new lows in 2016.
- 30-year fixed-rate mortgages (FRMs) averaged 3.58 percent with an average 0.5 point for the week ending April 14, 2016.
- This is down from last week (3.59 percent) and last year (3.67 percent).
- Mortgage applications for new home purchases increased 17 percent month-over-month (unadjusted).
- Conventional loans comprised 67.5 percent of loan applications.
- MBA estimates new single-family home sales were running at a seasonally adjusted annual rate of 574,000 units in March 2016.
Wednesday, April 13:
- The Market Composite Index increased 10 percent (seasonally adjusted) from one week earlier.
- The refinance share of mortgage activity increased to 54.9 percent of total applications from 54.5 percent the previous week.
- The adjustable-rate mortgage (ARM) share of activity increased to 5 percent of total applications.
Tuesday, April 12:
- There were 34,000 completed foreclosures in February 2016.
- This is down 10 percent year over year.
- It’s also a 2.6 percent decrease month-over-month.
- Appraised home values were 2.17 percent lower than homeowers’ expectations.
- Home values increased 0.29 percent month-over-month in March.
- Home values were up 4.77 percent year-over-year.
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