AgentBrokerage

Daily market update: May 5, 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.

First American Homeownership Progress Index for 2015:

  • The 2015 index declined 1.8 percent year-over-year.
  • The index is down 7.6 percent from the peak in 2005.
  • Currently, the index is 0.4 percent above the 25-year low point that was set in 1995.

Mortgage Bankers Association’s Mortgage Credit Availability Index (MCAI) for April 2016:

  • The MCAI decreased 0.89 percent to 122.4 in April 2016.
  • This indicates that credit standards are tightening.

mcai-april-2016

Mortgage rates:

 

Home equity rates:

Yesterday’s most recent market news:

Mortgage Bankers Association’s Weekly Applications Survey:

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  • Mortgage applications decreased 3.4 percent from one week earlier.
  • The refinance share of mortgage activity decreased to 52.9 percent of total applications from 54.4 percent the previous week.
  • The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to 3.87 percent from 3.85 percent.

Email market reports to press@inman.com.