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Home equity rates:
Yesterday’s most recent market news:
- The Pending Home Sales Index was up 1.4 percent to 110.5 in March from 109.0 in February.
- The index is now 1.4 percent above March 2015 (109.0).
- After last month’s slight gain, the index has increased year-over-year for 19 consecutive months and is at its highest reading since May 2015 (111.0).
- The average rate for a 30-year fixed-rate mortgage was 3.64 percent with an average 0.5 point for the week ending May 26, 2016.
- This is up from last week when it averaged 3.58 percent.
- A year ago at this time, the 30-year FRM averaged 3.87 percent.
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- The average interest rate on all mortgage loans was 3.75 percent, down 1 basis point from 3.76 in March.
- The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 3.94 percent, down 1 basis point from 3.95 in March.
- The average loan amount for all loans was $322,400 in April, down $2,600 from $325,000 in March.
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