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, a measure of mortgage loan application volume, decreased 4.1 percent on a seasonally adjusted basis from one week earlier.
- The refinance share of mortgage activity increased to 54.3 percent of total applications from 53.7 percent the previous week.
- The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) remained unchanged at 3.85 percent, with points decreasing to 0.36 from 0.37 (including the origination fee).
U.S. Census Bureau’s April 2016 construction spending:
- Construction spending during April 2016 was at a seasonally adjusted rate of $1,133.9 billion.
- This is 1.8 percent below the revised March estimate of $1,155.1 billion.
- It’s 4.5 percent above the April 2015 estimate of $1,085.0 billion.
Mortgage rates:
[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”]
Yesterday’s most recent market news:
Ten-X’s Residential Real Estate Nowcast for May 2016:
- May existing home sales will fall between seasonally adjusted annual rates of 5.47 and 5.83 million, with a targeted number of 5.65 million.
- This is a 3.7 percent increase from April 2016.
- It also represents a 6.2 percent year-over-year gain.
S&P/Case-Shiller Home Price Index for March 2016:
- The national index was at 176.91.
- This is up 0.72 percent month-over-month.
- In March 2015, the index was 168.24.
Black Knight Home Price Index for March 2016:
- The home price index in the United States was $257,000.
- This is up 1.2 percent from February 2016.
- It’s also up 5.3 percent from March 2015.
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