AgentBrokerage

Daily market update: April 27, 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.

Mortgage Bankers Association’s Weekly Applications Survey:

  • Mortgage applications decreased 4.1 percent week-over-week for the week ending April 22, 2016.
  • The refinance share of mortgage activity decreased to 54.4 percent of total applications from 55.4 percent the previous week.
  • The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) increased to 3.85 percent from 3.83 percent, with points increasing to 0.35 from  0.32 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans.

Mortgage rates:

 

Home equity rates:

Yesterday’s most recent market news:

S&P/Case-Shiller Home Price Index for February 2016:

  • The index rose 5.3 percent year-over-year in February 2016.
  • Before seasonal adjustment, the index rose 0.2 percent month-over-month in February.
  • The 10-City Composite increased 4.6 percent year-over-year in February.

Money Anxiety Index from March 2016:

  • The Money Anxiety Index increased by 1.3 index points to 64.0 in March 2016.
  • This indicates a higher level of financial stress and anxiety.
  • The increase was attributed to new home sales falling 1.5 percent in March, the third consecutive monthly drop.

 

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