Check Inman every day for the daily version of this market roundup.
[graphiq id=”b2w6fmfIyNL” title=”30-Year Fixed Rate Mortgage Rates for the Past 6 Months” width=”600″ height=”400″ url=”https://w.graphiq.com/w/b2w6fmfIyNL” link=”http://mortgage-lenders.credio.com” link_text=”30-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio”]
[graphiq id=”2NvK9Bl9HIF” title=”15-Year Fixed Rate Mortgage Rates for the Past 6 Months” width=”600″ height=”400″ url=”https://w.graphiq.com/w/2NvK9Bl9HIF” link=”http://mortgage-lenders.credio.com” link_text=”15-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio”]
Home equity rates:
[graphiq id=”kPkTJrAnX5r” title=”Average Home Equity Loan Bank Rates by State” width=”600″ height=”465″ url=”https://w.graphiq.com/w/kPkTJrAnX5r” link=”http://mortgage-lenders.credio.com” link_text=”Average Home Equity Loan Bank Rates by State | Credio”]
[graphiq id=”dP0v3iYOnH” title=”Average Home Equity Loan Credit Union Rates by State” width=”600″ height=”465″ url=”https://w.graphiq.com/w/dP0v3iYOnH” link=”http://mortgage-lenders.credio.com” link_text=”Average Home Equity Loan Credit Union Rates by State | Credio”]
Thursday, May 12:
- The delinquency rate for mortgage loans on residential properties was 4.77 percent of all loans outstanding — unchanged from the previous quarter.
- Foreclosure actions were started on 0.35 percent of loans in Q1, a decrease of one basis point quarter-over-quarter and down 10 basis points year-over-year.
- The serious delinquency rate, the percentage of loans that are 90 days or more past due or in the process of foreclosure, was 3.29 percent, a decrease of 15 basis points quarter-over-quarter and a decrease of 95 basis points year-over-year.
Wednesday, May 11:
- 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.
Tuesday, May 10:
- 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.
- 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.
Monday, May 9:
- 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.
- 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.
- 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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