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Daily market update: May 10, 2016

Mortgage rates plus all the latest daily real estate market news

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

Quicken Loans’ Home Price Perception Index for April 2016:

  • Appraised values were, on average, 1.95 percent less than what homeowners estimated in April.
  • In March, appraiser opinions were 2.17 percent lower than homeowner expectations.
  • Home values decreased 0.66 percent from March to April but increased 3.79 percent year-over-year in April.

 

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CoreLogic’s March 2016 Foreclosure Report:

  • Foreclosure inventory declined by 23.2 percent year-over-year in March 2016.
  • Completed foreclosures declined by 14.9 percent year-over-year.
  • The number of completed foreclosures nationwide decreased year over year from 42,000 in March 2015 to 36,000 in March 2016.

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Mortgage rates:

 

Home equity rates:

Yesterday’s most recent market news:

National Association of Realtors Metropolitan Home Prices for the first quarter of 2016:

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  • The median existing single-family home price increased in 87 percent of measured markets, 154 out of 178 metropolitan statistical areas.
  • 24 areas (13 percent) recorded lower median prices than one year before.
  • There were more rising markets in Q1 2016 than in Q4 2015, when 81 percent of measured markets saw price gains.

Fannie Mae’s Home Purchase Sentiment Index (HPSI) for April 2016:

  • The HPSI increased 3.5 points to 83.7 in April.
  • The net share of consumers who think now is a good time to sell a home rose 16 percentage points.
  • However, the “good time to buy” component dipped to an all-time survey low, creating the narrowest gap on record between these two measures.

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May preliminary Money Anxiety Index:

  • The May preliminary Money Anxiety Index is at 64.0.
  • This indicates no change over April.
  • In the first quarter of this year, the index increased 1.2 points

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Email market reports to press@inman.com.