Daily market update: May 6, 2016

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Mortgage rates:

 

Home equity rates:

Yesterday’s most recent market news:

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
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