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- The 30-year fixed-rate mortgage rate averaged 3.59 percent with an average 0.6 point for the week ending April 21, 2016.
- This was up from 3.58 percent from last week.
- It was down from last year’s rate, 3.65 percent.A year ago at this time, the 30-year FRM averaged 3.65 percent.
- U.S. house prices were up 0.4 percent month-over-month (seasonally adjusted).
- House prices were up 5.6 percent year-over-year.
- The index levels since October 2015 have exceeded the prior peak level from March 2007.
Home equity rates:
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- Total existing-home sales were up 5.1 percent (seasonally adjusted) month-over-month.
- Sales are up 1.5 percent year-over-year.
- The median existing-home price for March was $222,700, up 5.7 percent year-over-year.
- The March ABI score was 51.9, up from 50.3 in February.
- The new projects inquiry index was 58.1, down from 59.5 in February.
- Regional averages for the following regions were: South (52.4), Northeast (51.0), West (50.4), Midwest (49.8)
- Mortgage applications increased 1.3 percent week-over-week (adjusted).
- The refinance share of mortgage activity increased to 55.4 percent of total applications from 54.9 percent.
- The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) increased to 3.83 percent from 3.82 percent.
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