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Daily market update: April 21, 2016

Mortgage rates plus all the latest daily real estate market news

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

Freddie Mac’s Primary Mortgage Market Survey:

  • 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.

pmms_chart_lg

Federal Housing Finance Agency’s February 2016 House Price Index:

  • 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.

fhfa-seasonally-adjusted-unadjusted-rates

Mortgage rates:

 

Home equity rates:

Yesterday’s most recent market news:

National Association of Realtors Existing-Home Sales for March 2016:

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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.

 

March EHS Infographic

Architecture Billings Index (ABI) for March 2016:

  • 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 Bankers Association’s Weekly Applications Survey:

  • 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.

Email market reports to press@inman.com.