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Daily market update: May 16, 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.

National Association of Home Builders/Wells Fargo’s Builder Confidence/Housing Market Index (HMI) for May 2016:

  • Builder confidence in the market for newly-built single-family homes remained unchanged in May at a level of 58 on the HMI.
  • Builder confidence has been at 58 for four months straight.
  • The HMI components measuring sales expectations in the next six months increased three points to 65, while the component charting current sales conditions and the index gauging buyer traffic both held steady at 63 and 44, respectively.

FNC’s Residential Price Index for March 2016:

  • Home prices are up 1.0 percent in March 2016 from February 2016.
  • Year-over-year basis, prices are up 5.7 percent from a year ago.
  • Throughout the first quarter, home prices were up 0.4 percent from the previous quarter.

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Mortgage rates:

 

Home equity rates:

Last week’s most recent market news:

Mortgage Bankers Association’s National Delinquency Survey for Q1 2016:

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  • 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.

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Email market reports to press@inman.com.