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Daily market update: April 22, 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.

Black Knight Financial Services’ “First Look” at March 2016 mortgage data:

  • The national delinquency rate fell 8 percent in March to 4.08 percent.
  • The rate of 30-day delinquencies is at lowest level in over 15 years.
  • Foreclosure starts were down 14 percent from February.

black-knight-march-2016

Campbell/Inside Mortgage Finance Housing Pulse Survey for March 2016:

  • First-time homebuyers accounted for 37.8 percent of home purchases during March, based on a three-month moving average, up from 36.7 percent in February.
  • The current homeowner share of purchases fell to 46.0 percent in March from 46.5 percent the previous month.  
  • The average time on market for non-distressed properties in March was 9.8 weeks, and the average home price on non-distressed properties was $292,200. 

Mortgage rates:

 

Home equity rates:

Yesterday’s most recent market news:

Freddie Mac’s Primary Mortgage Market Survey:

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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.

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

Email market reports to press@inman.com.