AgentBrokerage

Daily market update: June 6, 2016

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

Black Knight Financial Services monthly mortgage performance data for April 2016:

  • April’s national delinquency rate was up 3.77 percent from March.
  • The April delinquency rate was still more than 10 percent below the April 2015 level.
  • At 58,700, April’s foreclosure starts were the lowest monthly volume since April 2005.

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Mortgage rates:

 

Home equity rates:

Last week’s most recent market news:

Freddie Mac’s Primary Mortgage Market Survey:

  • The 30-year fixed-rate mortgage (FRM) averaged 3.66 percent with an average 0.5 point for the week ending June 2, 2016.
  • This was up from last week when it averaged 3.64 percent.
  • A year ago at this time, the 30-year FRM averaged 3.87 percent.

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Mortgage Bankers Association’s Mortgage Credit Availability Index (MCAI):

  • The MCAI fell to 121.1 in May 2016, indicating that lending standards are tightening.
  • Month-over-month, it was down 0.8 percent.
  • Of the four component indices, the Jumbo MCAI saw the greatest tightening (down 1.3 percent) over the month followed by the Government MCAI (down 1.0 percent), the Conventional MCAI (down 0.8 percent), and the Conforming MCAI (down 0.3 percent).

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Email market reports to press@inman.com.