AgentBrokerage

Daily market update: May 3, 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.

CoreLogic’s home price index for March 2016:

  • Home prices increased 6.7 percent year-over-year in March 2016.
  • Month over month, prices increased 2.1 percent
  • CoreLogic forecasts that prices will increase 5.3 percent year-over-year in March 2017.

core-logic-hpi-march-2016

Mortgage rates:

 

Home equity rates:

Yesterday’s most recent market news:

U.S. Census Bureau’s construction spending for March 2016:

  • Construction spending during March 2016 was estimated at a seasonally adjusted annual rate of $1,137.5 billion.
  • This is 0.3 percent above the revised February estimate of $1,133.6 billion.
  • The March figure is 8.0 percent above the March 2015 estimate of $1,052.9 billion.

Black Knight March 2016 Mortgage Monitor Report:

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  • Mortgage delinquencies fell by 8 percent in March, with the national rate hitting 4.08 percent.
  • Prepayment speeds jumped 46 percent from February, hitting their highest point since June 2015.
  • Total non-current inventory (loans 30 or more days past due or in foreclosure) has fallen over half a million loans from last year and is now below 2.7 million.

black-knight-march-2016

Ten-X Residential Real Estate Nowcast for April 2016:

  • Existing home sales will fall between seasonally adjusted rates of 5.3 and 5.7 million.
  • This would be a 3.6 increase from March.
  • It would also indicate a 7.4 percent year-over-year gain.

Email market reports to press@inman.com.