Daily market update: April 29, 2016

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

Mortgage rates:

 

Home equity rates:

Yesterday’s most recent market news:

Federal Housing Finance Agency’s March 2016 mortgage interest rates:

  • The national average contract mortgage rate for previously occupied homes by combined lenders decreased 15 basis points from February 2016 to March 2016.
  • The average interest rate on all mortgage loans was 3.76 percent, down from 3.89 in February.
  • The average loan amount was $325,000 in March, up $8,300 from $316,700 in February.

NACMR_4282016

U.S. Census Bureau’s Residential Vacancies and Homeownership data for Q1 2016:

  • National vacancy rates in the first quarter 2016 were 7.0 percent for rental housing and 1.7 percent for homeowner housing.
  • The rental vacancy rate of 7.0 percent was 0.1 percentage point lower than the rate in the first quarter 2015 and virtually unchanged from the rate in the fourth quarter 2015.
  • The homeowner vacancy rate of 1.7 percent was 0.2 percentage points lower than the rate in the first quarter 2015 and 0.2 percentage points lower than the rate in the fourth quarter 2015.

homeowner-rental-vacancy-q12016

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