AgentBrokerage

Daily market update: May 11, 2016

Mortgage rates plus all the latest daily real estate market news

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

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

Mortgage Bankers’ Association’s Weekly Applications Survey:

  • The Market Composite Index increased 0.4 percent week-over-week on a seasonally adjusted basis.
  • On an unadjusted basis, the index increased 1 percent week-over-week.
  • The average contract interest rate for 30-year fixed-rate mortgages decreased to its lowest level since April 2016, 3.82 percent, from 3.87 percent.

Mortgage rates:

 

Home equity rates:

Yesterday’s most recent market news:

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.

 

image001

3 essential tools that will 10X your real estate marketing
Smart landing pages, a synchronized database and automation generate results READ MORE

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.

report_highlights_nfr_2016_03_mar_top_01

Email market reports to press@inman.com.