Daily market update: June 9, 2016

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

CoreLogic Home Equity Report for Q1 2016:

  • 268,000 residential properties regained equity in Q1 2016.
  • The aggregate value of homes in negative equity was $299.5 billion.
  • 8.0 percent of mortgaged homes were in negative equity.

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Freddie Mac’s Primary Mortgage Market Rate:

  • The 30-year fixed-rate mortgage (FRM) rate fell to 3.6 percent from 3.66 percent.
  • A year ago, the 30-year FRM was 4.04 percent.

freddie-mac-pmms

Mortgage rates:

 

Home equity rates:

Yesterday’s most recent market news:

Mortgage Bankers Association’s Weekly Applications Survey:

  • Mortgage applications increased 9.3 percent week-over-week.
  • The refinance share of mortgage activity decreased to 53.8 percent of total applications from 54.3 percent the previous week.
  • The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances decreased to 3.83 percent from 3.85 percent, with points decreasing to 0.33 from 0.36 (including the origination fee).

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