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Daily market update: April 21, 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.

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.