AgentBrokerage

Daily market update: May 27, 2016

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

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

Mortgage rates:

 

Home equity rates:

Yesterday’s most recent market news:

National Association of Realtors’ Pending Home Sales Index for March 2016:

  • 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).

Freddie Mac’s Primary Mortgage Market Survey:

  • 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.

pmms_chart_lg

How agents dominate with multichannel content marketing
Win listings and overwhelm competition by mastering the art of social media, direct mail and email READ MORE

Federal Housing Finance Agency’s April 2016 mortgage rate index:

  • 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.

Screen Shot 2016-05-26 at 7.02.47 AM

Email market reports to press@inman.com.